Real estate
The Reserve Bank of India i.e. RBI has decided to reduce the repo rate by cutting 25 basis points (0.25%) and bringing it to 6.25%. This will reduce the EMI of home loan in the coming days. Millions of home buyers will benefit from this. For a long time, home buyers were waiting for their EMI to decrease. Experts say the repo rate will be further cut in the coming days. This will reduce interest rates on home loans. The real estate sector will also benefit from this. The demand for houses will increase, which will boost this sector. Let us know what the industry experts have to say on the repo rate cut.
A welcome step for the premium real estate segment
Mohit Aggarwal, business head of Concentrate Infrastructure Private Limited, said, “RBI decides to reduce the repo rate by 25 bps to 6.25%. This deduction is expected to promote the demand for housing. Low borrowing costs will increase affordables for luxury houses and investors, which will increase demand in high-end residential markets. Indicates, which encourage HNI and NRIs to make strategic investments. “
Will be easy to buy a house
BPTP’s CFO Manik Malik said, “It is a positive step for the economy to reduce the repo rate by cutting 25 basis points, especially for the real estate sector. The cost of borrowing from this change in the policy rate It is, which will benefit both the developers and the home buyers. This deficiency will reduce home loan EMI, making it easier to buy a house. “
Housing demand will increase
Strategy Sudeep Bhatt, director of Whiteland Corporation, said, “The decision to reduce the policy repo rate from 25 basis points to 6.25% is a very positive step for the real estate sector. By making more economical, housing demand will be given a very important boost. Low interest rates will be reduced, the purchasing power of the house buyers will increase and more people will be encouraged to invest in property. “
New projects will come
Welcoming the cut of 25 basis points in the repo rate, the National President of the Naradco G. Hari Babu said, “This cut will have a positive impact on the overall areas, which will make the home loan more economical and increase the demand for housing. Increased demand will encourage developers to start new projects, which will create new opportunities for investors. Will become more economical and attractive.
Economy will benefit
Nitesh Kumar MD and CEO Emami Realty said, “This deduction will significantly promote economic development and increase market notion. The cost of borrowing from the rate cut will be low, making it easier for businesses to reach capital and invest in expansion projects. For the real estate sector, this decrease in interest rates is particularly beneficial as it will promote the demand for housing and commercial properties. We believe that this step will contribute to a more strong and flexible economy. ”
This rate cut was necessary
Manoj Gaur, CMD of Gaur Group and Chairman of CREDAI National, says that repo rate cut by RBI is a very positive step. After the general public friendly budget, it will have a good impact in the 25 BPS deduction economy. Income tax exemption, with tax concession on other homes and rental income, it will not only increase cash flow in the market but also strengthen the possibilities of investing in real estate sector. This monetary policy was very important after a recent CRR cut of 50 basis points.
Will be easy to buy a house
Ganga Realty Joint Managing Director Vikas Garg said, “The decision to reduce the repo rate by RBI to 6.25% is a welcome step, which will benefit the house buyers and the real estate sector. Lowering interest rates on home loans will make it easier for people to buy their dream home, which will increase demand in all classes. This step is an important effort towards making housing more economical and accessible. In addition, it will speed up real estate market and encourage buyers and investors to avail low interest rates.
Demand will increase
Summary Trehan, Managing Director of Trehan Group, said, “The decision to reduce the repo rate by RBI by 6.25% is an important incentive for home buyers and real estate industry. Buying a house will be more accessible due to decrease in interest rates on home loans, which will make it more accessible The purchase capacity of the buyers will increase. This step will create a positive atmosphere in the market and will motivate those who buy homes to take advantage of low interest rates for the first time. Demand will increase, which will increase sales and sector growth. “
Repo rate has decreased after 5 years
Pradeep Aggarwal, founder and chairman of Signature Global (India) Limited, says that for the first time after five years, RBI has reduced the repo rate to 6.25% for the first time, which is a major encouragement for India’s real estate market. The home loan will be cheaper by low interest rates, especially the trust of the middle income group and premium segment buyers. Real estate is already contributing significantly to the economy and this step will help strengthen the rapid growth of the sector, more funding for projects and strengthening sustainable urban growth.
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