"The decision by the RBI to maintain the repo rates at 6.50 percent is a favorable step, though a decrease in these rates would have positively impacted the optimism of potential homebuyers resulting in stimulated home sales. An adjustment like that would have injected more funds into the pockets of prospective homebuyers, motivating them to make their dream home purchase. Nevertheless, the RBI has effectively managed to keep inflation rates within acceptable boundaries. The Indian economy has displayed resilience against global uncertainties and has exhibited commendable performance. Also, the government has implemented a range of constructive policy measures that have sustained housing sales momentum. Additionally, the government's resolution to keep the Ready Reckoner (RR) rates steady for the state in 2023-24, has indeed elevated the confidence of homebuyers. We once again make an appeal to the government to consider reducing stamp duty rates, a move that could invigorate the interest of potential homebuyers. It is our hope that these positive advancements will uphold the enthusiasm of homebuyers, encouraging them to step forward and realize their homeownership aspirations."

Mr. Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty
“The RBI’s decision to keep the repo rate unchanged at 6.50 per cent, once again reiterates the government’s resolve in supporting the real estate industry with sustaining government policies. This pause in the repo rate will help in improving market sentiments which is essential, given the upcoming festive season. This will drive housing demand, while controlling inflationary trends. We expect the government to continue with industry friendly policies that will sustain housing sales. We also look forward to the state government reducing stamp duty which will further bring relief to home buyers and boost home sales.”

Mr. Rohan Khatau, Director, CCI Projects
“The RBIs decision to keep the repo rate unchanged is a good move as it will curb inflation and drive housing demand. This comes at a time when market sentiments are robust coupled with high expectations given the approaching festive season. We hope the government considers bringing down stamp duty rates which will have a positive impact on home buyer sentiments and bring much needed relief to the home buyer.”

Mr. Vivek Mohanani - MD & CEO, Ekta World
"The Indian economy has demonstrated remarkable strength and resilience in the face of global challenges. The RBI's choice to uphold the current stance for the third consecutive occasion was a predictable decision aimed at prioritizing stability. Opting for another increase in the repo rate by the RBI would not have been favorable for the real estate sector, given that home loan interest rates are already increased. Any additional escalation in policy rates could have significantly impacted the sentiments of potential buyers and their ability to afford homes. This, in turn, might have restrained the demand as well. It would be more preferable to see a further reduction in interest rates in the near future to enhance overall market confidence and create a more appealing environment for prospective home buyers."

Mr. Ashish Narain Agarwal, Founder and CEO at PropertyPistol.com
"The RBI's commendable decision to maintain the repo rate at 6.5% for the third consecutive time has found favor across sectors. This move effectively balances inflation while nurturing economic growth. In the realm of real estate, this decision is a welcome one, particularly due to the steadfast momentum witnessed in the housing segment over the past year. The availability of attractively priced home loans will catalyze growth across luxury, mid-income, and affordable housing segments. As we approach the upcoming festive season, a pivotal period for the industry, the trajectory of growth remains promising. The supportive monetary policy framework provided by the RBI serves as an additional catalyst, poised to further bolster the real estate sector. This synergy between prudent fiscal measures and sectoral dynamism bodes well for the future outlook of the real estate landscape."

Dr. Sachin Chopda - Managing Director, Pushpam Group
"We welcome the RBI's decision of keeping the key rates unchanged amid the rising inflation. This would encourage the prospective homebuyers to still close-in on their property investments. In the last couple of years, we have witnessed a lot of investment in real estate as it has provided the investors with more value for their money and it has also become an attractive asset class when compared to other investment options." 

Mr Ashwin Chadha, CEO, India Sotheby's International Realty
"The RBI has maintained the status quo on key policy rates, highlighting that risks remain evenly balanced. The primary objective is to curb inflation and bring it within the comfortable range of 4%. This strategic move is anticipated to provide substantial impetus to India's broader growth trajectory. There is an emerging expectation that the RBI might eventually consider a reduction in key interest rates. Once this happens it will be a much-needed breather on EMIs for home loans. It's noteworthy that the demand for residential real estate has been robust since 2021 on the strength of the economy, jobs and growth."

Mr. Vimal Nadar, Head of Research, Colliers India
"In one of the most keenly followed MPC meetings in recent times, RBI has continued to maintain status quo on benchmark lending rates. While the economic growth trajectory of India remains intact, food inflation and the consequential impact on consumer inflation remains a monitorable. The Central bank has factored in an inflation expectancy of 5.4% for FY 2023-24 in the GDP growth projection of 6.5% for the ongoing fiscal year. Notwithstanding spiralling effect of volatile global economic scenario, strong inherent fundamentals of domestic economy will continue to allay the urgency for rate cuts in near future. RBI’s decision to keep the repo rate steady at 6.5% since February this year will continue to bring in respite for EMI dependent homebuyers. Stability in financing costs will also stand to benefit the balance sheet of real estate developers. Real estate construction activity remains buoyant and is reflected in healthy steel consumption and cement production. Stable interest rates, favourable pricing & availability of relevant supply will augur well with first time homebuyers especially in the affordable & mid segments in the upcoming festive season."

Dr. Mohit Ramsinghani - Chief of Sales, Runwal Group
"The pause in REPO Rate hike is a very positive news for the real estate sector. This will create positive consumer sentiment & momentum for real estate. The demand is already robust, this move will make all the fencesitters to come ahead and finalize their decision to buy a home."

Mr. Amit Jain - CMD, Arkade Group
"The RBI's decision to retain the repo rate at the same level is welcomed and anticipated. This will further pave the way to having a stable interest rate regime over the medium term helping the positive growth momentum in the housing space. Through demand-driven methods, this action will encourage the present growth momentum in the residential real estate sector. A planned move to control inflation may see the RBI stepping away from its accommodating policy and this would eventually result in some change in momentum. Today’s move is encouraging for early real estate bookings leading up to the upcoming festive season, and we expect that this upward trend will continue to gather strength as the year progresses."