ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

RBI rate cut: Big relief to realty sector - How it will help homebuyers

An interest rate is one of the important factors that one looks at while buying a home as loan equated monthly installments  (EMI) depend on that.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
RBI rate cut: Big relief to realty sector - How it will help homebuyers
Banks should pass down the benefit to the homebuyers as this will encourage the buyers to buy their dream home, Image source: PTI

The Reserve Bank of India's decision to cut repo rate by 25bps after the first Monetary Policy Committee Meeting under the newly appointed RBI Governor Shaktikanta Das has been welcomed by the real estate sector. Hari Prakash Pandey, Executive Director, Finance & Corporate Strategy, Runwal Group told Zee Business Online that the move will lead to lower interest rates for homebuyers and will boost the residential demand as well.

"The RBI's move on slashing the repo rate by 25 basis points focuses on driving growth and is expected to infuse liquidity in the system. This will be a much-needed relief for the real estate sector as it will lead to lower interest rates for homebuyers. RBI's decision will not only increase positive sentiments in the real estate sector but will also boost the residential demand going forward," he said.

Manoj Paliwal, Chief Financial Officer of Omkar Realtors said, "Apex Bank stood by its commitment, cuts rate by 25bps, Apex bank’s move to soften the interest rates by 25 basis points is a good move, a much-needed impetus in the real estate sector. The move will ensure softening of lending rates and EMI’s will see some reduction whereby attracting more buyers to own the house.

Secondly, the RBI’s decision to cut rates at regular intervals will improve the affordability quotient of Indian home buyers. 

Sarojini Ahuja, VP, Sales & Marketing, Transcon Triumph told Zee Business Online that the decision will also increase liquidity in the banking system.

Watch Zee Business tweet video here:

#Budget2019 के बाद बाजार में क्या हो आपकी रणनीति, कहां लगाएं पैसा? जानिए बाजार पर गिनी जेम्स कंसल्टेंट्स के MD & CEO मेहरबून ईरानी की राय।@AnilSinghviZEE pic.twitter.com/k16Uz135ZZ

— Zee Business (@ZeeBusiness) February 8, 2019

"RBI has given positive signs showing that the market is improving and finally the financial institutions can now start on to pass the benefits to the end-users. Cheaper loans for home buyers and rising demand will create renewed interest in residential property purchase from end users," she said.

Hiral Sheth, HOD Marketing of Sheth Creators said, "The first bimonthly RBI Policy announcement by newly appointed RBI Governor Mr. Shaktikanta Das, slashing the repo rates by 25bps to 6.25% is a welcome move said, The rate cut will definitely help in bringing down the home loan interest rates and would bring some amount of relief to the homebuyers. Also, banks should pass down the benefit to the homebuyers as this will encourage the buyers to buy their dream home."

Further explaining the scenario she added that Interest rate is one of the important factors that one looks at while buying a home as loan equated monthly installments (EMI) depend on that. So, as EMI's fall due to drop in interest rates, the demand for housing should rise, Faster GDP growth and declining interest rates will help real estate companies generate more sales and propel the growth of the industry. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Realty sectorhome buyersRBIShaktikanta Das
Written By: Monisha Dubey
Updated: Fri, Feb 08, 2019
11:13 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Wealth Guide: Real Estate - Here's how investing in realty sector could help you retire early | Expert’s suggestions Wealth Guide: Real Estate - Here's how investing in realty sector could help you retire early | Expert’s suggestions
Wealth Guide: Real Estate - How to reduce realty sector investment risks? Expert gives these suggestions Wealth Guide: Real Estate - How to reduce realty sector investment risks? Expert gives these suggestions
Kolte-Patil Developers FY22 sales bookings up 45 pc to record Rs 1,739 crore Kolte-Patil Developers FY22 sales bookings up 45 pc to record Rs 1,739 crore
Wealth Guide: Real Estate is showing sharp recovery - Should you invest or wait? Expert suggests this Wealth Guide: Real Estate is showing sharp recovery - Should you invest or wait? Expert suggests this
Puravankara sales bookings in FY22 rise 9% to record Rs 2,406 crore on higher demand of residential properties Puravankara sales bookings in FY22 rise 9% to record Rs 2,406 crore on higher demand of residential properties

LATEST NEWS

Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM

Gold declines Rs 323; silver tumbles Rs 776

GST Council Meeting Outcome: Big boost for Rakesh Jhunjhunwala's stock as sewage treated water gets exemption from GST

Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy

Garmin Forerunner 955 Solar, Forerunner 255 series smartwatches launched in India - Check price & availability

Apple iPhone users can transfer any data from Android 12 phones - Check details

Volkswagen chief says they will beat Tesla by 2025

HDFC NIMs to be under pressure for a quarter: Parekh

Indian Bank raises MCLR rates by 0.15 pc across tenors

CCI approves proposed combination involving Google International LLC and Bharti Airtel Limited

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV