Thane Real Estate Poised for Growth as RBI Cuts Repo Rate
Thane/ Mumbai: The Reserve Bank of India (RBI) has recently announced a 25 basis-point reduction in the repo rate, a move that is anticipated to provide a substantial boost to Thane's real estate market. This decision is expected to positively impact both residential and commercial real estate sectors in the region.
Sachin Mirani, President of CREDAI MCHI Thane, expressed optimism about the rate cut. “As inflation comes under control, economic growth will move upward with an obvious impact on Thane’s real estate,” he stated. Mirani believes that the reduction in interest rates will not only enhance the affordability for homebuyers but also improve the overall market liquidity.
Faiyaz Virani, Hon. Secretary of CREDAI MCHI Thane, elaborated on the dual benefits of the reduced interest rate regime. “First, it will enhance homebuyer affordability, and secondly, it will ease borrowing costs for real estate developers, thereby improving overall market liquidity,” Virani explained. This dual impact is crucial for a region like Thane, which has been witnessing steady growth in its real estate sector.
The RBI’s calibrated 25 basis-point rate cut is a welcome move that is expected to accelerate home buying in Thane’s residential segment. “This will particularly benefit the premium and luxury homes market in Thane,” Mirani added. The reduced interest rates will make it more attractive for buyers to invest in high-end properties, thereby stimulating demand in this segment.
Moreover, the positive impact is not limited to the residential sector. Mirani also highlighted the potential benefits for the commercial property market. “This will strengthen Thane’s commercial property off-take and support new investments in Thane’s real estate growth story,” he concluded. The improved liquidity and reduced borrowing costs will encourage more developers to invest in commercial projects, leading to a robust real estate market.
Thane, a rapidly growing suburban area of Mumbai, has been a focal point for real estate development due to its strategic location and infrastructure. The region offers a blend of residential, commercial, and industrial properties, making it an attractive destination for both buyers and investors. The RBI’s rate cut is expected to further catalyze this growth, making Thane a prime location for real estate investments.
In conclusion, the RBI’s decision to cut the repo rate by 25 basis points is a significant step that is likely to have a profound impact on Thane’s real estate market. With enhanced affordability and improved market liquidity, both residential and commercial sectors are poised for substantial growth in the coming months.
