Stable Mortgage Rates to Boost Housing Market Amid RBI's Unchanged Repo Rate

The real estate sector anticipates robust demand as the RBI maintains the repo rate at 6.5%. Developers highlight that stable mortgage rates ensure affordable home loans, boosting housing sales, particularly during the festive season. Realtors are hopeful for a rate cut in the upcoming monetary policy meetings to further propel growth.

The Reserve Bank of India's (RBI) choice to hold the repo rate steady at 6.5% is set to sustain strong demand in the housing market, according to real estate developers.

Developers are optimistic about a potential rate cut in the next monetary policy committee meeting, which they believe could further stimulate the sector.

CREDAI President Boman Irani stated that the unchanged repo rate would keep homebuyers' borrowing costs stable, maintaining ongoing home loan EMIs. NAREDCO President G Hari Babu echoed this sentiment, emphasizing the affordable borrowing environment created by the RBI's decision, particularly during the festive season.

(With inputs from agencies.)