Avneesh Sood, Director of Eros Group talks about the RBI’s Decision to hold repo rate at 6.5%, The Quote of Avneesh Sood is as follows:
“The Reserve Bank of India’s decision to maintain the repo rate at 6.5% during the ongoing festive season is indeed a significant development for the real estate market. It brings much-needed stability and continuity to the interest rates, providing a favorable environment for both prospective homebuyers and existing home loan borrowers. A steady reporate translates into lower borrowing costs, making home loans more affordable. This not only encourages individuals who aspire to own a home but also supports the growth of the housing sector, ultimately contributing to the overall economic development. The decision to hold the repo rate at this level also instills confidence among real estate participants, as it secures foreseeable borrowing expenses, simplifying project strategizing and implementation for developers. Additionally, the unchanged repo rate is a festive bonanza for homebuyers, offering them another opportunity for cost-optimized home purchases. It aligns perfectly with the spirit of celebration, encouraging economic activity in the real estate sector and benefiting both buyers and the industry as a whole.”
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