RBI holds repo rate: Housing market eyes stronger festive housing demand

The Reserve Bank of India's decision to maintain the benchmark repo rate at 5.25% has been welcomed by real estate industry leaders, who believe that the move will help sustain buyer confidence and support housing demand ahead of the festive season.Announcing its monetary policy on Wednesday, the Reserve Bank of India kept the repo rate unchanged and retained its 'neutral' stance. The central bank said the decision was guided by the need for greater clarity on the inflation trajectory amid uncertainties surrounding the southwest monsoon, El Nino, geopolitics and global trade policy.Industry stakeholders said the continuation of the current interest rate regime would provide stability to the property market, with several expecting it to encourage both home purchases and investment activity over the coming months.Anshuman Magazine, chairman & CEO - India, SE Asia, Middle East & Africa, CBRE, said stable borrowing costs would come at an important time for the…