Oct 06, 2023

Real Estate Sector Optimistic About RBI Decision's Impact

The Reserve Bank of India's decision to maintain the benchmark interest rate has garnered attention from industry experts. The central bank cited inflation as a significant concern and affirmed its commitment to keeping liquidity tight through bond sales. The monetary policy committee unanimously held the repo rate at 6.50 percent and maintained a 'withdrawal of accommodation' stance.

Industry leaders expressed various viewpoints, with some highlighting the stability provided by a steady repo rate during the festive season.Mr. Amit Sarin, the Managing Director of Anant Raj Ltd, expressed his optimism to The Hindustan Times about the impact of the Reserve Bank's decision on the housing and real estate sector. He believes the sector is poised to benefit significantly from this decision, emphasizing that the demand for residential properties will remain strong in the upcoming quarters. Mr. Sarin's comments reflect his confidence in the resilience and growth potential of the housing market in light of the RBI's monetary policy stance.

The decision to maintain the repo rate for the fourth consecutive time reflects the RBI's prudent approach to economic equilibrium and commitment to price stability. The RBI's announcement sets the stage for the next bi-monthly monetary policy on December 8.