RBI rate cut – an excellent move but needs more, says Rajesh Prajapati

Mumbai, June 02, 2015: The real estate industry welcomes the announcement of Dr. Raghuram Rajan, RBI Governor on a cut of 25 basis points in its repo rate as an excellent move said, Mr. Rajesh Prajapati, MD, Prajapati Constructions.

“Though a welcoming move, RBI could have done much more. However, the rate cut will not only help in lowering the home loan interest rates making home buying a reality but will also accelerate growth of the real estate industry.”

He further emphasized that RBI must look at real estate with new optimism.

“Also Banks must pass on the benefit to customers by cutting the interest rates as this will motivate the home buyers to buy their dream home”, added Mr. Prajapati.