Calcutta, October 8 (UNI) The decision to maintain the status quo on key rates is important because it comes at the start of the holiday season,
according to Knight Frank India President Shishir Baijal.
“We welcome the RBI’s decision to keep rates unchanged despite inflationary pressures, as adequate liquidity and a stable pension rate will play a catalytic role in the robust recovery of the country’s real estate sector,” Baijal said. by reacting to the unchanged RBI pension rate. at 4 percent.
Over the past few quarters, there has been a fundamental shift in buyers’ expectations and attitudes towards home ownership,
which enabled the residential real estate sector to perform very well in all segments. Many factors, in particular demand stimuli such as
The reduction in stamp duties and lower circular rates as well as the lowest mortgage rates on record have helped convert latent demand into sales, he added.
The RBI’s dovish stance will allow banks to continue providing mortgage lending at current levels, Baijal noted.
“At this point, we are in a favorable position with an encouraging acceleration in the vaccination rate across the country, with the holiday season underway and the opening of the country, the time has come to ensure an orbital shift for the industry. Important and timely measures for a like real estate, which maintains close links with several other industries, would translate into a significant boost to the overall economic growth of the country, ”he concluded.
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