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Developers welcome CRR cut, stresses on rate cut

Comments(2) Sub Category:Mumbai,Realty News Posted On: Sep 21, 2012

CREDAI, the apex body of realtors, welcomed the RBI’s decision to cut cash reserve ratio (CRR) by 0.25 per cent. However, they also felt that reduction in repo rate was needed to boost the real estate sector.

The Indian real estate industry has expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector. Developers have been harping on their emphasis to bring down the high interest rate.

Realty is going through a dim phase as housing demand has been hit due to high interest rate on home loans, added with the mounting pressure of interest payable of realty firms, which have been sitting on a huge debt, leading to reduction in their margins and profitability.

To read more real estate news:

Finance ministry to meet up with bank executives

2 Responses to “Developers welcome CRR cut, stresses on rate cut”

  1. [...] Developers welcome CRR cut, stresses on rate cut [...]

  2. [...] Developers welcome CRR cut, stresses on rate cut [...]

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