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Abhishek Kapoor, Chief Executive Officer, Puravankara Limited, “Real estate is an appreciative asset that has continued to witness a surge in consumer demand. Due to increased market consolidation and a rise in income and job opportunities, the marginal increase in repo rate by 50 bps is unlikely to have a significant impact on the demand. While this move by RBI will lead to increased home loan rates, this was an important step to stabilise the economy that is already reeling under inflationary pressure. The all-time low rates in the recent past had already paved the way for the growing demand in the sector, leading to a robust recovery post the pandemic. Additionally, the sustained government spending on infrastructure, the uptick in private business investments, and the service sector will continue to fuel economic growth, thereby positively impacting the real estate sector.”
Pradeep Aggarwal,Chairman Signature Global (India) Ltd said, “Repo rate hike of 50 BPS by RBI could be termed as reformative move, the stated aim was clear in current macro and micro economic conditions, There was no other option left but to rein in inflation through monetary control measures. This might slightly influence the real estate, but it will not impact the consumer confidence or demand. Simultaneously, increasing 100% limit of individual loans by apex bank for co-operative banks, would surely spread a positive communication among each stakeholder.”
Lincoln Bennet Rodrigues, Chairman & Founder, The Bennet and Bernard Company shared, “The current round of hikes could make the buyers apprehensive and they might as well adopt a wait and watch attitude. But on a positive note, the continued wage and job growth in varied sectors will provide a cushion in the short term for the purchasing decisions. The rate hike won’t have significant impact as home loan interest rates have already gone down substantially in the recent past and buying decisions may not be altered by these marginal changes. The outlook for India Inc looks positive with higher affordability and disposable income in the hands of new-age investors.”
Amarjit Bakshi, CMD, Central Park said, "The circumspect approach of the RBI to hike the repo rate by 50 basis points is a laudable decision to ward off the inflationary challenges and provide relief to the household segment. It’s a temporary speed breaker in the current growth momentum, which would stabilise the current inflationary trend and build strong foundation in the near future for RBI to again adopt growth-oriented stance. The current rate hike will certainly make home loans costlier, but it will not have a tangible impact on the buyers in the long run. The real estate sector is on the stronger side of the tide, and no significant impact will be swatted by the industry."
