• Business News
  • Insurance
  • Saving
  • Share Market 5Paisa
  • Loan
  • Mutual Funds
  • Investment
  • Real Estate
  • Crypto coindcx
    • हिन्दी
    • తెలుగు
    • मराठी
    • বাংলা
    • ગુજરાતી
    • ಕನ್ನಡ
  • Close
  • Daily Show
    • 2+2=5
    • Take it Easy
    • Red Alert
    • Formula Guru
    • Money Gyan
    • Money Central
    • Money time
    • Jhatpat
  • Weekly Show
    • Money Comics
    • Economicom
    • Realty Check
    • Smile and pay
    • Money Tales
    • Spend Wise
    • Companynama
  • Insurance
  • Savings
  • Share Market 5Paisa
  • Loan
  • Crypto coindcx
  • Investment
  • Mutual Funds
  • Real Estate
  • Tax
  • Exclusive
  • Home » News » Real Estate » Realtors welcome RBI policy; urge apex bank to boost liquidity in housing sector

Realtors welcome RBI policy; urge apex bank to boost liquidity in housing sector

RBI Governor's assurance to provide adequate credit by ensuring liquidity and announcement of Rs 10,000 crore additional liquidity to NHB must be passed onto the real estate, says an industry expert

  • Press Trust of India
  • Publish Date - April 7, 2021 / 06:41 PM IST
Realtors welcome RBI policy; urge apex bank to boost liquidity in housing sector
No land can be registered at a rate that is below the circle rate.

New Delhi: The real estate industry on April 7 hailed the RBI’s decision to keep the key policy rates unchanged and provide additional liquidity of Rs 10,000 crore to the National Housing Bank (NHB) but said the apex bank should ensure that the fund is being made available to cash-starved developers to complete projects.

The Reserve Bank of India (RBI) kept key interest rates unchanged and stuck to its accommodative stance amid concerns of rising COVID-19 infections that could derail the nascent economic recovery.

“By keeping the repo rates unchanged, RBI has maintained an accommodative stance. The RBI Governor’s assurance to provide adequate credit by ensuring ample liquidity & announcement of Rs 10,000 cr additional liquidity to NHB must be passed onto the real estate as the sector has been struggling to source funds for projects,” CREDAI National President Harsh Vardhan Patodia said.

Anshuman Magazine, Chairman and CEO, CBRE India, South- East Asia, Middle East and Africa, said the RBI decision has been undertaken with the aim of ensuring economic revival, while ensuring that inflation remains within the target going forward.

The central bank has announced additional measures such as special liquidity facilities for financial institutions, including Rs 10,000 crore for the NHB, he said, adding these measures would assist the revival of the real estate sector.

NAREDCO President Niranjan Hiranandani said: “The unchanged repo rate by the RBI which signals to keep the borrowing momentum buoyant. Also, pegging the real GDP forecast at 10.5% reflects Indian economic recovery to be healthy, self-sustainable and resilient.”

Sanjay Dutt, MD and CEO, Tata Realty and Infrastructure Ltd, said this is the fifth time in a row that the RBI has tried to maintain an accommodative stance and it will certainly play an important role in the long-term recovery of the sector.

“Considering that real estate forms the backbone of several other sectors, we urge the government to introduce measures that truly uplift the sector, such as granting of industry status, allowing FDI in RTMI (ready-to-move-in) projects and extending the tax benefit from affordable to mid housing,” he added.

Ashish R Puravankara, managing director, Puravankara Ltd, said the unchanged repo rate will be integral in driving investments to the real estate sector and enable more home buyers to enter the market with ease.

Manoj Gaur, CMD, Gaurs Group welcomed the RBI policy but felt more measures need to be taken to revive the sector.

The real estate sector needs several measures, and we expect a push from RBI to the banks to disburse loans to the sector, said Uddhav Poddar, MD, Bhumika Group.

Ram Raheja, director, S Raheja Realty, said this will continue to further foster the demand for housing. “Housing markets have responded well in the past to lower home loan rates, stamp duty reduction and other rebates.”

Mumbai-based builder Spenta Corporation’s MD Farshid Cooper said a rate cut would have been beneficial for the consumers.

Among property consultants, Housing.com and PropTiger CEO Dhruv Agarwala said the RBI’s decision is on expected lines. He hoped that lenders would take a cue from the RBI’s move to leave rates unchanged and continue to offer homebuyers the benefit of a historically low-interest rate regime.

Anuj Puri, Chairman, ANAROCK, said home loan rates may remain stable.  However, he said: “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.”

Savills India CEO Anurag Mathur said the RBI kept repo rate unchanged despite the marginal rise in inflation in recent months. “The real estate market, especially the affordable housing segment, will continue to benefit from the record low-interest rates.”

Samantak Das, Chief Economist and Head of Research & REIS, JLL India, said the resurgence of the pandemic and resultant concerns of its impact on economy and businesses demanded a resilient approach.

Rajani Sinha, Chief Economist and National Director – Research, Knight Frank India, said: “The RBI has taken reassuring steps to infuse additional liquidity into the housing sector through the interventions of increased financing to National Housing Bank and extension of priority sector tag for bank funding to NBFCs for housing loans.”

Honeyy Katiyal, founder of Investors Clinic, said it is an important step to enable the economic recovery to remain sustained.

“The RBI and especially the MPC needs to be commended for maintaining its accommodative stance for more than a year now. Its approach towards tackling the situation created by the pandemic and steps taken to help revive the economy, will go down in history as being one of the finest,” said Kaushal Agarwal, chairman, The Guardians Real Estate Advisory.

Download Money9 App for the latest updates on Personal Finance.

follow us

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Youtube
  • Instagram

also read

  • Property prices can increase by 7.5 per cent in 2022, says Reuters

    Property prices can increase by 7.5 per cent in 2022, says Reuters

  • Is This a Good Time to Invest in a Housing Fund?

    Is This a Good Time to Invest in a Housing Fund?

Read more news on

  • housing sector
  • monetary policy
  • National Housing Bank
  • NHB
  • RBI

Latest Video

SEE MORE
Understand the link between crypto exchanges and money laundering

Understand the link between crypto exchanges and money laundering

Updated: August 15, 2022
Why mutual fund investment is falling ever since FIIs have made a comeback?

Why mutual fund investment is falling ever since FIIs have made a comeback?

Updated: August 12, 2022
Tariff increase on cards; 5g tariff plans in India to make data expensive

Tariff increase on cards; 5g tariff plans in India to make data expensive

Updated: August 11, 2022
Why wheat prices won't fall even if wheat import duty is reduced?

Why wheat prices won’t fall even if wheat import duty is reduced?

Updated: August 10, 2022
Know Nifty 50 forecast, Sensex 30 forecast

Know Nifty 50 forecast, Sensex 30 forecast

Updated: August 9, 2022
Know the reason why onion prices are falling and current problems faced by onion farmers

Know the reason why onion prices are falling and current problems faced by onion farmers

Updated: August 5, 2022
Why clothes are not becoming cheaper despite  fall in cotton prices?

Why clothes are not becoming cheaper despite fall in cotton prices?

Updated: August 4, 2022
When will attrition in IT Sector and Tech Startups stop?

When will attrition in IT Sector and Tech Startups stop?

Updated: August 3, 2022
Open in App

Related

  • Relationship between increase in interest rates and stock market?

    Relationship between increase in interest rates and stock market?

  • Government increases the MSP of pulses, oilseeds and cereals

    Government increases the MSP of pulses, oilseeds and cereals

  • All eyes are now on the Federal Reserve policy

    All eyes are now on the Federal Reserve policy

  • Know by how much your EMIs will increase after RBI hike repo rate by 0.90 per cent in last 40 days

    Know by how much your EMIs will increase after RBI hike repo rate by 0.90 per cent in last 40 days

  • RBI and SEBI tough on crypto, will govt make cryptocurrency legal in India?

    RBI and SEBI tough on crypto, will govt make cryptocurrency legal in India?

  • Property prices can increase by 7.5 per cent in 2022, says Reuters

    Property prices can increase by 7.5 per cent in 2022, says Reuters

Videos

  • Which realty stocks analysts are betting on?
    Property

    Which realty stocks analysts are betting on?

  • Income Tax Payers get 50 days window till Sep 30 to join Atal Pension Yojana
    Bulletin

    Confusion Prevails Over Atal Pension

  • Will rally in Coal India continue? What analysts are saying?
    Stocks

    Will rally in Coal India continue? What analysts are saying?

  • Why mutual fund investment is falling ever since FIIs have made a comeback?
    Analysis

    FIIs Back In Action as Mkt Rebounds

  • OPD add on cover will defray medicine cost, doctor’s fees
    Savings

    OPD add on cover will defray medicine cost, doctor’s fees

  • TV9 Sites

  • TV9 Hindi
  • TV9Telugu.com
  • TV9 Marathi
  • TV9 Gujarati
  • TV9 Kannada
  • TV9 Bangla
  • News9 Live
  • Know this india
  • Money9 Sites

  • Money9 Hindi
  • Money9 English
  • Money9 Marathi
  • Money9 Telugu
  • Money9 Gujarati
  • Money9 Kannada
  • Money9 Bangla
  • Topics

  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Crypto
  • Exclusive
  • Daily Shows

  • 2+2=5
  • Take it Easy
  • Red Alert
  • Formula Guru
  • Money Gyan
  • Money Central
  • Jhatpat
  • Money time
  • Weekly Shows

  • Money Comics
  • Economicom
  • Realty Check
  • Smile and pay
  • Money Tales
  • Companynama
  • Spend Wise
  • Follow us

  • FaceBook
  • Twitter
  • Youtube
  • Instagram
  • Linkedin
  • Download App

  • Andorid
  • ios
  • Contact Us
  • About Us
  • Advertise With Us
  • Privacy & Cookies Notice
  • Complaint Redressal
  • Copyright © 2022 Money9. All rights reserved.