Amidst swift changes in global economic undercurrents with a moderate view on global economic outlook, the Reserve Bank of India on Thursday maintained benchmark lending rates at 6.5% for the ninth consecutive time, which among others creates a stable environment for the real estate sector.

Property developers said the RBI decision to keep the repo rate unchanged is a stabilizing force in the current volatile global economic scenario. With the US recession threats hovering, the Bangladesh crisis impacting regional capital flows, and broader global economic uncertainties, steady home loan interest rates offer a semblance of predictability.

Aditya Kushwaha, CEO and Director, Axis Ecorp: “The RBI decision to maintain the repo rate at 6.5% for the ninth consecutive time signifies a cautious approach amidst solid economic growth and easing inflation. For the real estate sector, this stability in policy rates can bolster investor confidence and encourage homebuyers, leading to sustained demand. With inflation showing signs of easing, the cost pressures on construction materials may reduce, further supporting project viability. For NRI investors, this predictable stance is crucial, offering stability amid fluctuating foreign exchange rates and global economic uncertainties, aiding informed investment decisions in the Indian real estate market.”