Here’s what Real Estate Agents have to say about RBI’s Monetary Policy
The real estate sector is one of the most globally recognized sectors of the world. Talking about real estate sector in India, it is expected that it will contribute 13% to the country’s GDP by 2025. It is second largest employer in India after agriculture. Demand for residential properties has surged owing to increased urbanisation and ever rising household income. Also, the consumers’ preference has shifted to owning house over living in a rental space.
The augmentation of real estate will have a pouring effect on subsidiary industries such as infrastructure and cement, leading to the formation of direct and indirect employment.
Prior pandemic it was seen that young working professionals were contributing to rental yields for most realty players in Gurgaon. The COVID-19 pandemic has turned the focus on the significance of financial security and sound investment backup at the times of need. Now the same age group is considering owning houses for both personal as well as for investment purposes.
The RBI has favoured buyers by keeping the repo rates unchanged to 4% and the reverse repo rate to 3.35% on the event of the monetary policy review meeting today. This monetary policy holds good news for potential buyers in the real estate industry. If you are planning to buy residential property in Gurgaon, then here are some views of industry players you must know.
The decision of unchanged RBI repo rate and reverse repo rate is a smart move by the government. The government has taken favourable decisions to support the real estate sector in the past few months which has positively impacted the market sentiments and will improve further in the post COVID era. In the past quarter, the sector has seen a robust response in terms of sales across spectrums. This move will further encourage prospective buyers to invest in the realty sector. – Pankaj Bansal, Director, M3M Group.
We welcome the move from RBI that aims at keeping the repo rate unchanged. This will ensure an easy flow of money to the people in the country. This has given a positive ray of hope to the consumers who require a home loan and looking forward to possessing a new house. As people want to attain satisfaction and security of owning a house during this pandemic, the boost in this desire is given by the constant rate of interest on home loans, which is not going to rise soon. We expect that this move by the government will give another boost to real estate. – Dr. Kunal Banerji, Advisor to the CMD, Central Park
The decision to keep the RBI repo rate and the reverse repo rate unchanged is again a great step by the government. With the economy growing post unlock, the housing sector is utilizing the opportunities due to various RBI decisions in the past few months. As a result, the sector has witnessed favourable market sentiments and increased sales in the past quarter. This will further continue to encourage banks to lend money to the housing sector and ensure improved credit flow. We hope to see further seamless support to the sector in the post-COVID era. This will revive cash flow in the country and maintain financial stability. – Santosh Agarwal, CFO, AlphaCorp.
If you are searching property in Gurgaon, then it’s the right time to buy your dream residential property in Gurgaon. Whether you want to buy affordable home in Gurgaon or luxury home in Gurgaon, there are ample of options to choose from socially in Golf course extension road.