In reference to today’s RBI monetary review and being the first one for the newly appointed RBI Governor, Urjit Patel; a big surprise in the form of a repo rate cut has been gifted to the country. A rate cut in the festive season will bring a ray of hope for realty revival and growth. For the same, kindly refer below for a quote by Mr. Manoj Gaur:
Manoj Gaur, President CREDAI-NCR & MD, Gaursons India Ltd.
With the ongoing festive season, realty sector of our country could not expect for a better news than a repo rate cut. At this point of time when the sentiments are positive and people are eager to buy and invest in property, banks will now cut interest rates, that will allow buyers to get their EMIs reduced. The demand will witness a better rise in the current festive season which will allow the inventory to clear in major metro cities. Realty sector welcomes this move by RBI and this being Urjit Patel’s very first policy review.
