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The RBI kept the repo rate unchanged in its October policy review on Friday, but announced some measures that are likely to encourage homebuyers and give a boost to lending and, thus, real estate.
Industry experts say with real estate demand gradually seeing some green shoots of revival, especially in the wake of reduced stamp duty charges (in Maharashtra) and developers’ discounts and freebies, reduced repo rates would have given an added boost just before the upcoming festive season. However, with consumer inflation still trending at the upper end of the apex bank’s band, and the policy repo rate also being substantially reduced by 140 basis points in 2020, today’s move was expected.