Source: Hindustan Times ( )

Real estate industry expects housing demand to remain strong with the RBI keeping key interest rate unchanged and is hopeful for a repo rate cut in next round of monetary policy to boost growth. This will help the housing sector that has been performing well from the past two years.

CREDAI National President Boman Irani said, “… We expect both housing supply and demand to sustain its ongoing momentum.”

“However, given that the inflation is at an 18-month low, there is scope for the RBI to reduce repo rates in the upcoming MPC meetings, to stimulate growth across all industries,” Irani added.

The housing sector that has been performing well from the past two years, nonetheless, the sector needed announcements that could further fuel the growth.

With the festive season in tailwinds, Naredco Vice Chairman Niranjan Hiranandani said a hiatus in interest rate hike would boost sales velocity.

Knight Frank India CMD Shishir Baijal said, “We believe that this status quo will facilitate positive decision-making for homebuyers.”

Colliers India Head of Research Vimal Nadar said, “as home loan rates are already at elevated levels of 9 per cent and above, this is a significant breather for lenders, developers & homebuyers.”

Savills India CEO Anurag Mathur said home loan EMIs will remain unchanged in the near-term, leading to sustained demand across various housing categories.