Quotes on Repo Rate unchanged by RBI MPC as below:
Mr. Yashank Wason - Managing Director, Royal Green Realty
"The RBI MPC's decision to keep the repo rate at 6.5% for the ninth consecutive time reflects a strong commitment to economic stability. This decision is vital for the housing market, which has shown robust performance recently. By maintaining the repo rate, the RBI ensures continued confidence among homebuyers and provides a stable environment for home loan borrowers. This consistency will support the ongoing growth of the real estate sector, positively impacting India's GDP and contributing to a favorable economic outlook."
Mr. S.K Narvar - Group Chairman, Trident Realty
*We as a real estate developer appreciate the decision to keep the repo rate unchanged, as has been the trend for the past ninth time. This stability is crucial in our current economic environment which has a relatively constant inflation and high GDP growth rate for investment in real estate. It reflects confidence in our market, encourages both buyers and developers to engage in long term investment that results in stability of the market. Since financing costs tend to remain stable, we are optimistic about the opportunities that lie ahead. This consistency not only creates a positive environment for homeownership but also strengthens our mission to provide sustainable properties that adapt to the changing needs of societies."
Aman Trehan - Executive Director, Trehan Iris
"The RBI’s decision to maintain the repo rate at 6.5% for the ninth consecutive time is a commendable move that balances inflation control with economic growth. We as real estate developers, are encouraged by this move as it supports affordable homeownership and enhances market confidence. Moreover, the unchanged repo rate encourages more buyers to invest in their dream homes, particularly in the luxury sector. Additionally, this steady financial environment enables us to continue delivering exceptional living spaces and drive innovation in real estate, ultimately enriching community living and strengthening the housing market."
Ashish Agarwal - Director, AU Real Estate
"As a real estate developer, we are encouraged by the decision to keep the repo rate unchanged for the ninth consecutive time. This sustained stability in interest rates is pivotal, making homeownership more attainable and affordable for prospective buyers. As affordability improves, we anticipate a surge in demand for luxury housing, as more individuals seek to invest in their dream homes. This environment not only fosters greater confidence among buyers but also empowers us to continue delivering exceptional living spaces that cater to their aspirations. We believe that this trend will invigorate the market, paving the way for innovative developments that enhance the quality of life in our communities."
Ms. Gauri Tandle - CFO, Ashwin Sheth
"The Indian government's recent amendment to capital gains taxation combined with RBI's decision to maintain the repo rate at 6.5%, reflects a balanced approach to economic management that significantly benefits the real estate sector. The new tax policy offers taxpayers a choice between a 12.5% long-term capital gains (LTCG) tax rate without indexation and the previous 20% rate with indexation. This flexibility offers significant relief to property owners, particularly those in the middle class, and underscores the government's responsiveness to citizens' concerns about tax burdens. The decision is especially impactful for the luxury real estate market, where high-value properties frequently experience substantial appreciation, providing even greater benefits for high-net-worth Indian individuals and investors. Concurrently, the stability in interest rates ensures predictable borrowing costs for potential homebuyers, thereby sustaining demand in the housing market. Despite the incomplete transmission of previous rate hikes in MCLR-linked loans, the overall lending environment continues to be conducive to growth. This favorable climate nurtures a thriving and dynamic real estate market, benefiting both first-time buyers and seasoned investors alike. It creates an environment where new opportunities abound and seasoned professionals can maximize their investments. With a projected GDP growth of 7% for FY25 and an anticipated inflation rate of 4.5%, the macroeconomic environment is highly beneficial to real estate investments. These policy decisions highlight the sector's crucial role in driving economic activity. As we navigate the stable interest rate environment and adapt to the new tax regime, our commitment remains steadfast in delivering exceptional value to customers while actively contributing to broader economic growth."
Sanjeev Kumar Sharma, CFO - M3M India
"The RBI's decision to keep the repo rate unchanged at 6.5% is a welcome move for the real estate sector. This stability in borrowing costs will encourage more homebuyers and investors to enter the market, supporting ongoing and future projects. Additionally, the robust GDP growth projection aligns well with our expansion plans, allowing us to meet the rising demand for both residential and commercial spaces. We are encouraged by the government's dedication to fostering a conducive economic environment, which is essential for the long-term prosperity of the real estate industry. We are confident that this commitment will have a profoundly positive effect on our sector, promoting sustained growth and opportunities in the sector."