Rate Hike Pause & Road Ahead For Residential Realty

Torbit - April 16, 2023 - - 0 |

Y Viswanatha Gowd, MD & CEO, LIC Housing Finance

RBI’s decision to keep repo rate unchanged may put to rest the anxiety among the home loan borrowers that emanated with the EMI increase consequent to a series of repo rate hikes. Coming at the start of the new financial year, this move improves the buying sentiment and sends a positive signal encouraging homebuyers to crystallize their buying decisions.

Venkatesh Gopalakrishnan, CEO, Shapoorji Pallonji Real Estate

RBI’s new credit policy will provide stability in the home loan category, maintaining the buying sentiment, leading to upsurge in the mid-segment housing. The demand for luxury and premium housing will remain unaffected. Going forward, interest rates will remain single digit which would be favourable for the real estate sector.

Raoul Kapoor, Co-CEO, Andromeda Sales & Distribution Private Limited

Despite continuous repo rate hikes, there was no slowdown in the housing sector but only  some moderation  impacting the affordable segment, largely due to a stable economy  and strong desire for home ownership and lifestyle upgradation. This is evident from the continuous surge in home loan demand . In our case home loan disbursals increased by nearly 50.4% to reach Rs 26328 crore in FY 23. Considering the overall inflation data coming in, the pause in repo rate may well be a long pause that will prove to be a booster for the residential real estate.

Boman Irani, President Elect, CREDAI National

The RBI’s move is laudatory  that will go a long way in sustaining the sales momentum witnessed in the residential segment. It will further provide a boost for the affordable and mid-income housing segments in particular. Further with  the higher budget allocation for the PMAY  programme, the demand for affordable housing is expected to grow in the upcoming quarters.

Deepak Kapoor, Director, Gulshan Group

The RBI’s decision to press the pause button after six consecutive repo rate hikes  is a positive policy stance. It is a well-meaning measure favouring the real estate sector in general and home buyers in particular.

Ankit Kansal, Founder & MD Axom Developers

The RBI’s decision to halt the repo rate hike has been prompted by a healthy economy bolstered by job market growth. This will boost the already buoyant housing demand. The government should consider incentives like stamp duty reduction, higher tax benefits for home loan interest and lower GST for the healthy growth of the housing sector.

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Niranjan Hiranandani, Managing director, Hiranandani Group & Vice Chairman, NAREDCO

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