Keeping The Industry Sentiments Intact
Ashish R. Puravankara, Managing Director, Puravankara Limited.
“As of today, the entire industry, and not just Real Estate sector, is going through unpredictable challenges. In the last year, the Real Estate sector saw ebbs and flows and while the Q4 of FY1920 looked promising, we were hit by the global pandemic. At this point, it is very important to boost customer sentiments and the announcement by RBI today on revised REPO rate standing at 4% , and this along with the extension of moratoriums until August 31st will provide a relief to home buyers. The further reduction of the REPO rate by 40 bps will aid in ensuring adequate flow of capital in the market. We hope that all banks will incorporate the new announcements and pass down the benefits to loan seekers.
While initiatives like this will certainly help in keeping the industry sentiments intact and motivate realtors, all the stakeholders of the sector should remain invested in bringing reforms and measures that will improve buyer sentiments.”