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.


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Jagan raises three capitals issue with Amit Shah

CM urges Union Home Minister to give re-notification for shifting HC Vijayawada, June 11, 2021:  Chief Minister Y.S. Jagan Mohan Reddy informed Home Minister Amit...

Vedanta Aluminium Launches itsmaiden Sustainable Development Report

Launched on World Environment Day, the report captures sustainability performance highlights of FY 2019-20, such as: USD 4.74 billion economic value distributed Over...

Retail Brands Eye High Streets for Expansion, Also Target Tier 2 & 3 Cities

Leading retail brands have closed at least 120+ lease deals at prominent high street markets across the country b/w April 2020 and May...

Bringing Together the Essential Elements of a Great Shower GROHE Rainshower SmartActive Hand Shower & Body Spray

National, June 11, 2021: GROHE, a world leader in sanitary fittings, a division of the LIXIL Group introduces their all-new Rainshower SmartActive Hand Shower...

Recent Comments