Home Industries Property RBI Monetary Policy Springs No Surprises, Rates Unchanged

RBI Monetary Policy Springs No Surprises, Rates Unchanged

By Anuj Puri, Chairman – ANAROCK Property Consultants

As expected, the RBI kept the repo rate and the reverse repo rates unchanged at 4% and 3.35% respectively while maintaining an accommodative stance, with a view to aid the economic recovery process. With consumer inflation still trending at the upper end, the RBI intends to keep an eye on it in the coming months. India is witnessing its worst second wave of COVID-19, thereby raising some uncertainty. On a positive, the real GDP forecast for the FY 2021-22 remains strong at 10.5% in the wake of the vaccination drive that is in full swing in India.

While repo rates will remain the same and home loan rates may remain stable, the incentive period for lower rates (starting from 6.7%) expired on March 31. SBI has already reverted to their normal rates and other banks will also follow suit. This may have some impact on the housing demand, especially in Maharashtra where the stamp duty cuts coupled with lowest-ever home loan rates had significantly boosted housing demand.

Now, with stamp duty cuts not being extended and benefits of lowest-best home loan rates also being rolled back, we may see some decline in overall sales volumes.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Pop Icon Alisha Chinai likely announce her new plans on ‘Jay-Ho!’ The Jay Kumar Show

The popular US talk show, 'Jay-Ho', would be featuring Alisha Chinai, the pop icon Made in India. Speculations are high about her sensational announcements...

GROHE Essence Ceramic: Beauty in its Purest Form

National, September 23, 2021: GROHE, a world leader in sanitary fittings, a division of the LIXIL Group has launched their all-new Essence Ceramic collection. It provides...

Notion introduced contemporary “Wooden Stair Board flooring” to enrich your home interiors

National, September 23, 2021: Stairs are much more than a link between two levels or spaces at home. They are rather the focal point...

Adding Beauty and Function with Ficus Fine Living Lamps

National, September 22, 2021: Lamps are eye-catching accessories that add a touch of elegance to your home's decor. A lamp is much more than...

Recent Comments