Mumbai, 8th April 2022 (GNI): Mr. Rahul Pande – Director, Justo Realfintech Pvt. Ltd.“The move by the RBI to maintain a status quo was on expected lines due to the growing uncertainties in the market. Lower home loan interest rate was one of the major factors for pushing real estate sales in the last two years of the pandemic. The decision will further help boost the confidence of new homebuyers, who would still want to avail the benefits of reduced interest rates before the developers pass on the additional burden of input costs to the homebuyers.”
Mr. Sandeep Runwal, President, NAREDCO Maharashtra
“In spite of pressures due to elevated levels of inflation amid the global turbulence caused mainly by the on-going Russia-Ukraine war, the RBI has maintained an accommodative stance to insulate the economy by keeping the inflation within the target range while supporting economic development. The RBI has ensured that the growth remains unhindered without any further deceleration. It has also attempted to normalise the liquidity corridor by introducing a long-awaited Standing Deposit Facility, which may absorb excess liquidity from the banks. It has also hinted at gradual and calibrated withdrawal of liquidity in a non-disruptive manner beginning this fiscal. On the real estate front, the crude prices – led inflation coupled with rising costs of material, increase in metro cess, ready reckoner and stamp duty rates, etc have a huge bearing on the real estate pricing. While the sector needs more liquidity, it equally needs a breather for rising costs.”
“We, at NAREDCO, have requested the Ministry of Housing & Urban Affairs to immediately look into the rising prices of the raw materials to curb the increased difficulties faced by realtors and home buyers, we are approaching the RERA authorities to consider this scenario as a Force Majeure and to allow the escalation in selling prices of the properties; so that the Government’s mission of ‘Housing for All’ to provide affordable housing fares well in these challenging times.” stated in the press release.ends
Be the first to comment on "More Comment on RBI Policy Announced today – April 08, 2022"