The Monetary Policy Committee (MPC) in its third meet in the current financial year continued with the status quo on rates. NewsBarons connects with Real Estate industry leaders to share their views and opinions on the MPC announcement.
• Repo Rate retained at 4%
• Reverse Repo rate retained at 3.35%
• CPI inflation outlook at 5.7%
• Growth projections for FY22 retained at 9.5%
Despite the recent spikes in inflation, RBI has decided to maintain the status quo on the repo rate for the seventh consecutive time. By doing this, RBI has sent out a strong signal that growth is important. It has also maintained FY22’s GDP growth forecast at 9.5 per cent, which is another positive sign.
The second wave had cast a major impact on the homebuying sentiment. However, the activity has started gaining momentum in the real estate sector in the last month. The home loan interest rates are at a historic low, the real estate players are extremely optimistic about the festive months with renewed confidence. Keeping these rates unchanged will prompt more buyers to invest in secured assets like real estate. For the upcoming season, real estate players including us are looking forward to launching new projects.