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National: Realtors welcome rate cuts with expectations of further reduction

Real estate agents welcome the Reserve Bank of India’s (RBI) decision of reduction in key policy rates by 0.25 percent. Experts opine that this should further be brought down, so that builders and home buyers can be benefited from decreased interest cost.

 

Lalit Kumar Jain, Chairman, Confederation of Real Estate Developers’ Associations of India (CREDAI) stated during an interview, “We sincerely hope that the RBI will keep up the trend of repo-rate cut and facilitate a fall in interest rates so that EMI burden on common house buyer gets reduced considerably.”

 

Sanjeev Shrivastva, Managing Director, Assotech said that repo-rate cut by 25 basis points is a good move to boost current sluggishness in realty market. Though it is a small change, this will be helpful, if financial institutions pass it on to consumers.

 

Favista’s Views: This minor change of 0.25 percent will be helpful to boost slow real estate market. It might be more helpful if the apex body reduces these rates further and make real estate market more profitable and affordable.

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