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The Silicon Review Asia

RBI is expected to retain its policy rates to aid real estate recovery

RBI is expected to retain its policy rates to aid real estate recovery

The Reserve Bank of India (RBI) is expected to keep all its key policy rates unchanged for the real estate segment hoping for a recovery in demand. Ambience Group’s President of Sales and Marketing, Ankush Kaul, has stated that the interest rate for a home loan is now at all-time lowest for the first time in the last two years and recovery in the transaction is expected in all the classes of housing. In India, the apex bank has continued to keep the interest rates unchanged, and the segment is expected to maintain the upward trend for 2021 as the homeowners are benefitted significantly.

In its bi-monthly monetary policy statement, the RBI has not changed its repo rate, and it is still being maintained at 4 percent for the FY 21-22. The ongoing pandemic had created a slump, and as the situation improved, the real estate segment witnessed smart recovery, with many consumers opting for a home purchase. As the home loan rates are at an all-time low, the demand is spurring and giving hope for the sector. Residential real estate is on the rise, and homeowners are taking advantage of the lowest mortgage rates. Residential real estate recovered by more than 90 percent in Q1 of 2021 when compared to the pre-pandemic levels.

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