Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani, on RBI’s Monetary Policy Announcement


The monetary policy committee’s decision to maintain the current repo rate is prudent and encouraging for the housing market. The stance of the committee provides prospective homebuyers with optimism as it acknowledges the controlled inflation. The Indian real estate market has witnessed a notable growth of 9.5% since early 2023. The REPO rate decision, coupled with the upcoming festive season, will only bolster this growth further.

Festive season embarks a surge in the demand and sales of properties connected to long-standing traditions and characterised by their auspicious origins. Additionally, the steadfast repo rate plays a crucial role in relieving pressure within the sector and spurring growth in infrastructure and construction. This, in turn, fosters a sense of confidence within the real estate industry, inspiring them to embark on new projects while benefiting from a stable interest rate environment.

This assurance of a favourable financial climate sets the stage for a robust phase of construction and development, offering the promise of a brighter future not only for the housing market but also for the overall economy.

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