The announcements in the RBI monetary policy for housing loans is a good move, but it may not necessarily revive the property market in terms of prices, Aditya Narain , Head-Research, Edelweiss Securities, said in an interview with CNBCTV18.

“From our perspective real estate stocks have been a buy for a while,” he said.

“What you are getting here today is a push for incentives for demand across the spectrum. So far what has tended to happen has been very lower end or middle end. This is the first time where you are looking at a policy support for so-called conspicuous consumption which is a very good thing. It is not as if there are any tax concessions that are being given out there, it is simply a recognition of the fact that you need other ends of the economy to move too for there to be broader good. So to that extent it is a very good policy move. Whether real estate will be a buy or not, volumes will go up, but I don’t think you will necessarily get too much in terms of prices. So to that extent, from a real estate asset class, I wouldn’t necessarily run into it for capital appreciation but in terms of volumes, churn, activity, that will go up and that has broader economic implications rather than necessarily stock implications,” he said.

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First Published:Oct 9, 2020 3:06 PM IST