New Delhi, Apr 5 (PTI) Interest rate-sensitive realty stocks jumped on Friday after the Reserve Bank of India (RBI) kept the benchmark interest rate unchanged at 6.5 per cent.

Among the realty pack, Godrej Properties jumped 3.92 per cent to close at Rs 2,502.30, Mahindra Lifespace Developers climbed 2.59 per cent to end at Rs 640.80, Macrotech Developers rose 1.99 per cent to settle at Rs 1,160.10, while DLF went up 1.98 per cent to finish at Rs 905.95 on the BSE.

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Also, Oberoi Realty gained 0.96 per cent to settle at Rs 1,550.60 and Brigade Enterprises rose 0.86 per cent to close at Rs 963.90 apiece on the exchange.

On the other hand, Prestige Estates Projects declined 1.14 per cent to end at Rs 1,290.35, Sobha fell 0.53 per cent to settle at Rs 1,555.70 and the Phoenix Mills went down 0.22 per cent to close at Rs 2,844.70 per piece on the BSE.

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The BSE Realty index rose 108.24 points, or 1.49 per cent, to close at 7,392.99.

The 30-share BSE Sensex climbed 20.59 points, or 0.03 per cent, to settle at 74,248.22 points. The broader Nifty ended with a marginal loss of 0.95 points at 22,513.70.

On Friday, the Reserve Bank of India said it has kept the benchmark interest rates unchanged at 6.5 per cent for the seventh time in a row, citing concerns over food inflation in view of IMD's prediction of above normal maximum temperatures during April to June.

As the RBI held key policy rates steady, the EMIs on home and auto loans are likely to remain stable for some more time. The central bank has kept interest rates unchanged since February 2023.

While unveiling the first bi-monthly monetary policy for the current financial year, the RBI has retained its growth rate and inflation forecast for the current fiscal year at 7 per cent and 4.5 per cent, respectively.

Meanwhile, realtors' bodies CREDAI and NAREDCO on Friday urged the RBI to reduce the repo rate in the next monetary policy as lower interest rates on home loans will give a further fillip to demand for residential properties.

As the RBI has held key policy rates steady, the EMIs on home and auto loans are likely to remain stable for some more time.

According to CREDAI President Boman Irani said, "The central bank maintains the repo rate at 6.5 per cent, continuing a hawkish stance to keep inflation under check.

"However, with repo rates being an industry agnostic subject, we hope to see lower repo/interest rates later this year that will provide an impetus to not just real estate and housing demand but across industries -- compounding sectoral and economic growth."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)