By Admin 
RBI Repo Rate Cut: Giving a big gift from the RBI on Friday, the repo rate has announced a cut of 50 basis points to the market estimate. With this, all kinds of loans and EMIs including home and car will become cheap. On the one hand, while the RBI hopes that their move will give a new pace to the economy, on the other hand, expectations are jumping in the real estate market. Real estate experts say that this step of RBI can prove to be a new booster dose for the real estate sector.
Confidence will come in home buyers
Trehan Summary Summary of Trehan Group Trehan says that the RBI’s decision to reduce the repo rate by 50 basis points to 5.5% is a welcome step. This is a strong sign of support for India’s economic pace. He said that this is a timely encouragement for the real estate sector, which will bring significant improvement in residential capacity and the spirit of buyers. Low interest rates have a direct impact as a decrease in monthly installments (EMI), so that potential home buyers will be able to decide to buy more confidence.
Summary Trehan further said that this development is especially beneficial for those who buy homes and will promote the demand for affordable and mid-segment housing. From the point of view of developers, easy credit availability will help to smooth the implementation of projects and increase liquidity. We believe that this rate deduction will revive the realty sector, together with the government’s infrastructure and continuous attention to urban development, and will contribute significantly to India’s development saga.
Loan will be available at better rate
Pankaj Kumar Jain, director of KW Grayup, says that the cut of 50 BPS at the repo rate is going to be better for the real estate sector. The reason for this is that RBI has done this to encourage domestic personal consumption. EMI will be reduced and home loans will be available for new home buyers at a better rate. These will be a major relief for buyers as property prices are continuously rising and home buyers can get relief from reducing interest rates by RBI.
Balance in market and inflation
Vikas Garg, managing director of Ganga Realty Group, believes that a large cut of repo rate 50 basis points from RBI will not only indicate this sector to this sector, but especially the demand is expected to increase the demand between mid-incoured and first-time homebayers. This step will give stability to the residential market and will speed up demand. Also, decrease in the cost of capital for developers will facilitate the implementation and funding of projects.
RBI’s move will prove to be a booster dose
While JP Infratech Limited Executive Director Jas Panchamia says that this decision of RBI is clearly promoting consumption and investment. At a time when especially the central bank has completely controlled inflation. In such a situation, after this decision of MPC, now commercial banks will give loans at cheap rates, so that the real estate sector will work as a booster dose.
Also read: RBI’s big gift: All kinds of loans and EMI will be cheap, cut in repo rate by 50 basis points