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.
Industry Applauds Torbit Year Book 2022
Torbit YearBook 2022- a third in series of our knowledge books has been acclaimed by the real estate industry for its rich and valuable content. that serves as a guide for different stakeholders of the sector.
Niranjan Hiranandani, Managing director, Hiranandani Group & Vice Chairman, NAREDCO
Thank you for my article featured in Torbit 2022. The book is an informative and useful guide for home buyers and property investors. I thank you for the copy of the book which covers a focused theme – ‘Rejuvenated, Responsible & Sustainable Real Estate. I am sure that this book would be of good assistance to all.
Ananta Singh Raghuvanshi, Founder President NAREDCO MAHI
Thank you Torbit for bringing out the third in a series of the YearBook on the real estate sector.. This resource book is one of its only kind in real estate.