Quote on RBI's bi-monthly monitoring Policy Review Meeting
As RBI Governor Mr. Urjit Patel yesterday maintained status quo on key rates at his bi-monthly monitoring policy review meeting.
Mr. Deepak Kapoor, President, CREDAI Western UP, said: "RBI has done it to first assess the effects of demonetisation and in next month hopefully we will get a clear picture about repo rates & reduction of interest rate that will be beneficial to the buyers. However, New home loan borrowers may still see lower EMIs on their loans because amidst intensifying competition among the banks. The home loan rates are already at a low and prices of real estate are also stable making it lucrative for the buyers to take quick decision to buy a home".
Mr. Prashant Tiwari, Chairman, Prateek Group_
According to Mr. Prashant Tiwari, Chairman, Prateek Group: "RBI has kept the repo rate unchanged but for those looking to buy a home, a better time could be on the anvil. We foresee that the RBI is inclined to cut repo rate in its April 2017 meeting. With banks flush with funds it appears the home loan rates are set to fall further".