Realtors Welcome Rate Cut; Seek More Reduction To Boost Sector

Echoing similar views, Royal Institution of Chartered Surveyors (RICS) South Asia Managing Director Sachin Sandhir, welcomed the rate cut by the RBI. However, he said the realty sector requires more such incentives.

"To revive investments in the sector, we hope the apex bank would continue monetary easing in the coming months and would further reduce the rates," Sandhir said.

PropEquity Founder and CEO Samir Jasuja said: "We welcome the repo rate cut of 25 basis points by RBI in the latest credit policy review. However the real estate sector requires larger cuts in the repo rate and we hope RBI continues monetary easing in the coming months."

Assotech Managing Director Sanjeev Srivastva termed the repo rate cut as "a good move" and hoped that the rate cut would be passed on to consumers by financial institutions.

"It will boost the situation of recent sluggishness in investment activity and domestic sentiments because interest rate is an important component in driving the economy. It is although small in percentage but a good sentiment booster," Srivastva said.