New Delhi [India], Aug 08 (ANI/NewsView): On the heels of a 50 BPS hike at the last MPC meeting, RBI’s 50 BPS repo rate hike last week raises the lending rate to 5.4 % and brings it back to par with pre-pandemic levels. Even though it seems marginal, it has aroused mixed feelings among property developers. Although most agreed that the rise was moderate, their opinions differed on the real impact on buyers at a time when buyers were preparing to invest in real estate.

Amarjit Bakshi, CMD, Central Park said, “In another calibrated effort to bring down inflation rates, RBI has raised the repo rate by 50 basis points to 5.40%. There is probably a conflict of opinions between different market experts regarding the possible outcome. one repo rate hike after another. The real estate market does not have to worry. The luxury residential segment is doing very well thanks to positive buyer demand, which ultimately led to improved sales. The hike will resolve the cumulative results of the inflation scenario on the Indian economy and put it on a path of continued development. »

Uddhav Poddar, MD, Bhumika Group, said: “RBI announced a 50 basis point hike, raising Repo rates slightly from 4.90 to 5.40, which is why RBI has taken a measured approach rather than take extreme measures to curb inflation.Although it would impact the sale of properties as the potential buyer would rethink or postpone their decisions to buy a house or any other property.At the same time it would help to control the inflation and would ultimately benefit developers as it would help reduce input costs.”

Shubham Sardana, Director of Elite PRO, said: “While there may be varying reactions to RBI’s decision, the increase in the repo rate is a well thought out and planned measure in a series of attempts to address the lull in the economy and inflationary concerns.On the other hand, the real estate sector has seen bullish growth lately, emerging from the tinges of the pandemic.Supported by strong buyer demand and positive market growth metrics, the sector real estate should not be impacted by this development. . There might be some crunches at the beginning, this will not have long term implications.”

Sanjay Sharma, Group Director of SKA, said: “While the real estate industry would have liked the repo rate to remain unchanged, ground-level reality dictates otherwise. By increasing the repo rate by 50 basis points, RBI has taken a conservative approach in addition to trying to do a nice balancing act.I would like to thank the RBI for keeping the upside at moderate levels.In terms of the impact on the sector, I believe that ‘it will be minimal because the future of real estate looks buoyant.

Dusyant Singh, Director of Orion 132, Noida, said: “There was a general foreknowledge among market connoisseurs that the repo rate would see an imminent rise, and quite in line with expectations, the repo rate was increased by 50 basis points. It is a practically understandable decision to lower inflation rates. The real estate sector is part of the Indian economy, and a step to bring the economy to a comfortable zone free from the burden of inflation will also benefit the sector. Although real estate markets may face a jolt at first, overall the real estate sector will run smoothly despite the upsides.”

Buniyad Group Director Ansh Batra said: “The continued inflationary difficulties have forced the RBI to raise the repo rate again by 50 basis points. The Indian economy is torn apart by the botched effects of tight inflation and can only be managed by concerted institutional institutions. RBI has shown its proactiveness in building a strong net to bring down inflation rates and also ease market pressures.Although property markets at the macro level will experience initial jolts and shocks due to the l increase in home loan rates, it is far from hitting a snag due to renewed market interest. Moreover, the RBI’s decision hit the core issue, and the subsidiary challenges will subside over time.

This story is provided by NewsSee. ANI shall in no way be responsible for the content of this article. (ANI/NewsView)

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