“While we are grateful that the government is maintaining the accommodative stance by letting the repo rate remain unchanged at 4 per cent, we were expecting some more support during these troubled times. Although the recent RBI monetary policy continues to provide some short term relief to the real estate sector, the introduction of some special initiatives for developers and homebuyers would have been ideal.
The real estate sector was already dealing with a lot of challenges and the Covid-19 induced inflation pressures and overwhelming supply inventory in the market have only added on to the difficulties. We hope the government addresses some of the much needed requirements of the real estate sector like the single-window clearance mechanism and granting of industry status as these would help the sector’s growth immensely.
Additionally, revolutionary measures such as the prospective 100% FDI policy for investment in completed projects would prove to be highly beneficial in overcoming the liquidity crisis caused by the pandemic. We look forward to the government’s continued support and are confident that by working together the public and private sector can truly thrive in the post-pandemic world.”