INDIA'S STRONG ECONOMIC AND GROWTH PROSPECTS
The RBI's choice to keep the repo rate unchanged reflects confidence in the country's economic fundamentals and growth prospects. With the GDP expected to grow at 7% in FY24, this announcement sets an optimistic tone for the New Year. The unchanged repo rate also signifies a conducive environment for sustained growth in the real estate market, aligning with our collective efforts to foster economic development and will positively impact both residential and commercial segments. We remain committed to contributing to the robust growth of the real estate sector, particularly in affordable housing, buoyed by the positive indicators set forth in the RBI's monetary policy announcement. However, despite the pause, the current interest rate is at its highest in the last four years. We appeal to RBI to consider our request in its next review meeting.
Tags : G Hari Babu NAREDCO country's economic fundamentals real estate sector