Mr. Sandeep Runwal – President, NAREDCO Maharashtra

“The RBI’s decision to hike the interest rate by 25 basis points to 6.50 percent will keep inflation in check and on target. This hike has been on expected lines, and is only taking forward the government’s budget initiatives, of sustainable growth and financial stability.

This hike in interest rate will not affect home buyer sentiments much, as there is a strong demand for housing.

The recent positive budget announcements which aim at putting more money into the hands of the home buyer, will fuel demand. This coupled with the additional outlay provided in the PMAY will give a definite thrust to the mission of providing housing for all.

Overall, the RBI policy announcement has tried to rein in inflation, but at the same time balance the growth process of the economy. The Indian economy is resilient to global headwinds and has fared remarkably well.”