RBI Pro Realty Policy
Builders and consultants across real estate spectrum have unanimously lauded RBI for its recent decision to not to raise the key policy rates, saying that the bold move by the apex bank would infuse positive sentiments in the property market. Springing a surprise recently, the RBI left key policy rates unchanged, notwithstanding persistent high inflationary pressure. Developers hoped that RBI would soon be able to cut policy rates as inflation is expected to ease, claimed Chairman and Country Head, Jones Lang LaSalle India Anuj Puri, adding that RBI’s decision is good news for the realty sector at the end of the year. It is positive for the real estate sector as there was anticipation of increase in the interest rates, which would have been damaging for the sentiments of prospective home seekers.

Similar sentiments were expressed by the Chairman, Parsvnath Developers Pradeep Jain when he said that the RBI has "acted wisely" by keeping the key rates unchanged. Though there was pressure to raise the rates due to the recent rise in WPI inflation, still the apex bank managed to handle it and held the rates at 7.75%. This will give a positive signal to the market. CREDAI-NCR President Anil Sharma said the RBI has "sweetly surprised" both the experts and industry players with its bold decision. In fact, realtors could not have asked for more given the high retail inflation of more than 11%. The bold move by the RBI has infused positive sentiments in not just in real estate sector but also other sectors of economy, Mr Sharma, who is CMD of Amrapali Group, said, adding that the consistent efforts of the RBI have already stabilized rupee against dollar, besides providing short term liquidity support to push growth simultaneously.