IEP Chandigarh, February 8
Commenting upon the RBI Repo Rate announcement, LC Mittal, director Motia Group said,” To tamp down inflation rates which RBI Governor said would still be above the 4% target in 2023-24, the RBI has announced a policy rate hike by 25 bps to 6.5%. The increasing geopolitical uncertainties and market volatility necessitate the need for institutional intervention. The sustainable demand for real estate continues to rise by epic proportions, especially luxury realty won’t bear a significant impact on end-users due to high disposable income strengths and portfolio diversification ambitions.
Prateek Mittal, executive director, Sushma Group said,” The RBI has announced a repo rate hike of 25 bps which currently stands at 6.5%. This is the first repo rate increase in 2023, which projects that RBI will maintain an assiduous policy stance to square off the inflationary woes. The moderate hike in repo rate demonstrates that RBI might go for lower repo rate hikes in 2023 as the economy is much better regulated and managed than the situation was in 2022. As far as the real estate sector is concerned, the hike will not dampen housing or commercial space demand as real estate becomes one of the most reliable and sought-after investment portfolios for traditional and new-age investors.”
Tejpreet Singh Gill director Gillco Group said,” The significant consumer inflow in luxury realty will not dissipate due to the repo rate hike. The RBI, in its latest move, has announced a repo rate hike of 25 bps to 6.5%. The mortgage home loan rates will witness an upsurge which is already above the comfort levels. The inflation rates are expected to be beyond 4% in the current financial year, which might cause a meagre decline in affordable residential markets. However, the luxury demand will continue to be buoyant.”
