In order to safeguard the home economy, the Reserve Bank of India made the sensible decision to keep the repo rate at 6.5% despite the continued global economic slowdown and rising inflation.

Gurmit Singh Arora, National President, Indian Plumbing Association

Although 8.4% was a respectable third-quarter financial growth rate for India, maintaining price stability is now a national goal. The current repo rate serves as a fine-tuning tool to manage inflation and sustain growth as it approaches or falls within the RBI's target range. The plumbing industry, which depends heavily on credit and finance, applauds the government's decision to support policies that foster an atmosphere conducive to ongoing company operations and investment choices.

Declining earnings due to rising unpredictable costs in the supply chain and plumbing had previously been a big worry. This also applied to sanitary gear. Rather than ignoring the growing price restructuring, one might concentrate on unit restructuring and efficiency-driven driving as the loan rate gradually decreases. Water pumps, pipe sanctioners, and supply companies will make it easier for them to get cash flow and stability throughout cycle times.

In addition, if we don't control expenses, improve manufacturing technologies, and improve channel coordination, we won't be able to give value at a higher level and be robust. The increase in interest rates outside the economy to combat emerging inflation will provide more evidence of the market's medium-term trend. Therefore, the sector would be well to make use of the upcoming quarters as the market begins to trend upward to bolster capabilities and develop competitive strategies.

RPS Group Director Aman Gupta

The prior policy statement, which emphasized improving circumstances for homebuyers, is being carried out by this step. Because of the low interest rates on house loans, many choose to invest in homeownership since they have the financial means to do so. As a result, homeowners will benefit from reasonable rates and respite from the escalating cost of housing thanks to RBI's decision.

Customers view any addition to their pie charts, portfolios, and accounts as positive in any case, therefore they are pleased that the repo rate is being maintained. In the long run, the choice is the cornerstone of the housing industry's sustainable expansion and creates a speculative atmosphere in the current housing landscape. Buyers may pass everything via the market with confidence since they are familiar with the market, which suggests that the investment may return as many returns as they anticipate.

Director of Motia Group, LC Mittal

As it has maintained the repo rate unchanged for the seventh meeting in a row, the RBI has once again demonstrated its expertise and sound monetary policy. When a repo rate is steady and predictable, the ordinary house buyer's credibility and confidence significantly increase. With this guarantee, house loans start to become a reality. Additionally, this stability has a good knock-on impact on the real estate industry, which makes a significant contribution to the Indian economy and supports both the GDP and growth prospects going forward.

Second, as a strategic move, MPC decided to maintain the repo rate at 6.5% throughout. In order to support the whole economy, qualifying purchasers must take advantage of this accommodating policy before beginning a new house building. A rising house loan rate that doesn't go away promotes consumer credit and provides a solid growth base for investments.

Sanjoo Bhadana, 4S Developers' Managing Director

The MPC's commitment to maintaining economic growth in the face of global challenges is reflected in its accommodating posture, which includes maintaining the repo rate at 6.5%. Maintaining pace before definitively curbing pressures for price increases appeared appropriate, given that inflation was on a regulated glide path until 2023.

The stop to any rate increases only provides short-term respite for the real estate market, as home loan rates are still high after the 250 basis point rise that occurred last year. The transmission of these cumulative rate increases to bank lending rates will intensify as 2023 goes on, impacting the affordability and serviceability of mortgages.

All things considered, India's economic outlook seems promising thanks to robust domestic demand. Beyond a transitory state, our favorable demographics, increasing urbanization, and rising household incomes continue to catalyze the structural housing demand.

Director of Goel Ganga Developments, Anurag Goel

For the seventh consecutive year, the Monetary Policy Committee of the Reserve Bank of India has maintained the 6.5 percent repo rate—at which the RBI lends money to scheduled banks in India—while also maintaining the accommodative policy stance of the reverse repo rate, at which the RBI borrows money from banks, in an effort to control inflation.

Bank interest rates will eventually remain lower as a result of banks being able to borrow money from the RBI at low interest rates thanks to a lower repo rate. This action would facilitate the benefits of a record-low interest rate regime for home buyers.

The real estate industry is already beginning to show signs of recovery due to the increase in rising demand, and the recent rate cuts will encourage more buyers to apply for bank loans. This could play a major role in the resurgence of demand and provide the industry with the much-needed boost.

The RBI Government's decision to maintain current interest rates would undoubtedly aid the market in fending off the effects of the pandemic that hit some industries a few years ago.