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CREDAI welcomes RBI decision on rate cut

The real estate developer community has welcomed the Reserve Bank of India’s decision on reduction on repo rates.

The builders association has expressed their concern that the decision will benefit both the real estate buyers and the developers.

The CREDAI president said that the commercial banks should cut rates of interest so that home loans would become affordable.

This notification will encourage the home buyers across the country to go for their dream homes.

With this decision the inflow is expecting to grow, hence a reduction in the project cost can be seen in near future.

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RBI further puts new bracket in home loans

Source : My Iris

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