Manju Yagnik, Vice Chairperson, Nahar Group and Senior Vice President, NAREDCO - RBI's new monetary policy

 

"With the RBI keeping the repo rate unchanged for the 9th consecutive time, homebuyers can still continue to enjoy the low-interest rates on their housing EMIs. The Apex Bank's continuous status quo is yet another opportunity for all those first-time buyers and fence-sitters eyeing for home considering safety and security with the ongoing pandemic.

 

RBIs decision to keep Repo Rate unchanged since the onset of pandemic and now with Omicron threat looming large is aimed to aid homebuyers with the lowest interest rate regime and maintain adequate liquidity. The increased affordability due to unchanged Repo Rate, developer offers and schemes, festival benefits has worked in the favour of developers with the sector recording growth of 15-20 percent over the last few quarters.

 

The new variant, as well as the continued lowest interest rates, are the two main triggers that will drive the sales for the next few quarters due to the increased interest of home buyers to own dream homes."