Developers welcome CRR cut, stresses on rate cut
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.
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Finance ministry to meet up with bank executives
Cash Reserve Ratio (CRR) rates, CREDAI, decline in housing demand, High interest rates, Home loans, Indian real estate industry, liquidity, RBI, Real Estate Developers, Real estate in India, Real Estate Sector, Repo Rate, Reserve Bank of India (RBI)
[...] Developers welcome CRR cut, stresses on rate cut [...]
[...] Developers welcome CRR cut, stresses on rate cut [...]