Views on Monetary Policy by Mr Vimal Nadar, Senior Director & Head, Research at Colliers India

2024-08-08 02:04:48 pm | Source: Colliers India

Views on Monetary Policy by Mr Vimal Nadar, Senior Director & Head, Research at Colliers India

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Below the Views on Monetary Policy by Mr Vimal Nadar, Senior Director & Head, Research at Colliers India

Amidst swift changes in global economic undercurrents with a moderate view on global economic outlook, RBI has remained cautious and maintained benchmark lending rates at 6.5% for the ninth consecutive time. Inflation, despite being within 6% levels, remains above the benchmark of 4% and thus, continuation of withdrawal of accommodation. In the first MPC meet after the Budget, the RBI has projected a GDP growth rate of 7.2% for FY 2025 led by robust high frequency economic indicators across key sectors.

Interestingly, stability in interest rates coupled with the recent announcement to rationalize stamp duty charges along with concessions for women homebuyers bodes well for real estate sector especially residential segment. Strong visibility in financing charges should help homebuyers and developers alike in the upcoming festive season.

Moreover, partial withdrawal of the applicability of the revised LTCG tax arising out of sale of land & buildings retrospectively provides elbowroom to effect housing sales with minimal tax outgo. This is likely to buoy investors’ & homeowners’ sentiment and thus the real estate sector at large throughout 2024.

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Views on Monetary Policy by Mr Vimal Nadar, Senior Director & Head, Research at Colliers India

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