Homebuyers and realtors are cheered by the unchanged repo rate

For the seventh time in a row, the Reserve Bank of India’s Monetary Policy Committee (MPC) decided to leave the repo rate steady on Friday. The decision is anticipated to significantly increase house sales in the nation and keep the repo rate at 6.5%.

The six-member Monetary Policy Committee (MPC) is led by Governor Shaktikanta Das, who said in his speech that the MPC convened from April 3–5. Following an extensive analysis of the changing macroeconomic conditions and financial trends, a majority of five votes has chosen to maintain the policy repo rate at 6.5%. June 5-7 is when the MPC panel will next convene.

The ruling has cheered up players in the real estate business throughout the nation. The developers of the NCR think that it will stimulate the market and increase residential sales. The chief business officer of Ambience Group, Ankush Kaul, said that the decision to maintain the current repo rate will not only stabilize interest rates for potential purchasers but also maintain public confidence in the government since elections are quickly approaching.

Yashank Wason, the managing director of Royal Green Realty, agreed and stated that the realtors are being cautious in navigating the market dynamics and using key policy rates to drive strategic investments and ensure long-term viability. This is because the RBI has committed to meeting the 4 percent inflation target and has acknowledged the upside risks.

A lot of house builders believe that the steady repo rate is better for purchasers and would help them more.

As seen by the most recent Q1 report, the developers have accelerated the rate at which new releases are released. According to Nayan Raheja of Raheja Developers, “India is firmly on the path of progress and the RBI’s decision to not disturb the pace by keeping the repo rate unchanged will enthuse the sector and also provide some relief to borrowers as their EMIs will not rise.”

“The real estate market will see much-needed stability and steady development if the repo rate is maintained. According to Dr. Renu Singh, head of sales and marketing at Aarize Group, “it will encourage more people to buy homes and get the encouragement to realise their dreams by opting for home loans.”