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Real Estate sector happy over RBI price Cut

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Realty segment is experiencing a downturn in demand; it called over rates cut by the RBI saying that the move will assist in lessening the liquidity for developers and benefit residence purchasers, as interest on housing loans is likely to slowdown further.
DLF Group’s Executive Director said to www.propertykhazana.com that, “It’s a good decision and will benefit for all industry and not only for realty. Cash flow will hike and interest on housing loans is also likely to drop.” JLLM Head said that, all this positivity is required to improve the auction level in realty. Parsvnath Developer Ltd. Chairman also said that, “It is a good go to cut the rates and with this cash flow will hike and I agree that banks will trim down interest rates for borrowers, which will benefit both the reality segment and residence purchasers.” RBI cut its main lending and borrowing rates by 50 bps each with sudden impact.
Calling off the RBI decision, Unitech Managing Director said to www.propertykhazana.com that, “This is a greeting go and will assist in lessening the needed cash flow to the market and it displays that the Govt. is pledged to encourage the market during different possible measures.” ASSOTECH’s MD said that, the decision will aftermath in less borrowing cost for the industry and leave money with the clients to spend on residential, automobiles and other needs. Also Raheja Developers MD said in a verbal communication to the www.propertykhazana.com that, banks are not moving the related benefits to the industry, till banks do it, this will not interpret in real physical benefit to the economy and realty segment. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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