Mr. Sandeep Runwal, President, NAREDCO Maharashtra

“The decision by the RBI to maintain the repo rates at 6.50 percent is a favorable step, though a decrease in these rates would have positively impacted the optimism of potential homebuyers resulting in stimulated home sales. An adjustment like that would have injected more funds into the pockets of prospective homebuyers, motivating them to make their dream home purchase. Nevertheless, the RBI has effectively managed to keep inflation rates within acceptable boundaries. The Indian economy has displayed resilience against global uncertainties and has exhibited commendable performance. Also, the government has implemented a range of constructive policy measures that have sustained housing sales momentum. Additionally, the government’s resolution to keep the Ready Reckoner (RR) rates steady for the state in 2023-24, has indeed elevated the confidence of homebuyers. We once again make an appeal to the government to consider reducing stamp duty rates, a move that could invigorate the interest of potential homebuyers. It is our hope that these positive advancements will uphold the enthusiasm of homebuyers, encouraging them to step forward and realize their homeownership aspirations.”

Mr. Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty

“The RBI’s decision to keep the repo rate unchanged at 6.50 per cent, once again reiterates the government’s resolve in supporting the real estate industry with sustaining government policies. This pause in the repo rate will help in improving market sentiments which is essential, given the upcoming festive season. This will drive housing demand, while controlling inflationary trends. We expect the government to continue with industry friendly policies that will sustain housing sales. We also look forward to the state government reducing stamp duty which will further bring relief to home buyers and boost home sales.”

Mr. Samyak Jain – Director, Siddha Group

“The RBI’s choice to keep its key policy rates unchanged for the third consecutive occasion was anticipated. This decision arrives amidst escalating property prices, which is already adding a huge financial burden to the end consumer. Although the decision might not have an immediate impact on the prospective homeowners, but it does offer some stability to the real estate sector. Consequently, it could potentially motivate several homebuyers who were actively in pursuit of their dream home. We eagerly anticipate governmental involvement, possibly through the reduction of stamp duty rates, which would offer relief to homebuyers and alleviate their financial strain even more.”