The country's economy, which is likely to contract by 5 percent in the current fiscal, may expand by around 5 percent in the next financial year according to Former RBI Governor Duvvuri Subbarao. "I do believe that getting up to 5 percent next year (FY22) is quite probable. The reason I say that ... Read more...
The real estate sector is unable to leverage the benefits of reduction in repo rates and appropriate directions should be given to banks to pass on the rate cut to NBFCs/HFCs to enable them to lend to the realty sector at a lower rate of interest, builders' body Credai has written to RBI Governor Sh... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Nish Bhatt, Founder & CEO, Millwood Kane International “In a surprise move RBI's rate setting committee - the MPC met off cycle from May 20-22 andannounced a slew of measures in light of subdued economic situation. This is the second timethat the MPC met off cycle. Like global central banks... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Prateek Mittal, Executive Director, Sushma Group We welcome this announcement by the RBI governor to reduce the repo rate by 40 bps to from 4.4 % to 4 %. Holding such a prominent position in building the country’s economy, the realty sector will garner extensive benefits and the reduced repo ra... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Manoj Gaur, MD, Gaurs Group and Chairman, Affordable Housing Committee, CREDAI (National) The latest 40 basis point reduction and the earlier rate revisions by RBI are a welcome move for sure which should help the real estate borrower in the long run if passed on and implemented by all banks and ... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Uddhav Poddar, MD, Bhumika Group We welcome the further reduction of policy rates by 40 basis points announced today, with this round of reduction the lending rates are like to be at the lowest in 10-15 years. The extension of loan moratorium by another 3-months will help a vast majority of peopl... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Ankit Kansal, MD & CEO, 360 Realtors The RBI measures to reduce the repo rate & reverse repo rate is in continuation of the govt. policies to build liquidity & enhance its circulation in the system. The Real Estate welcomes the prudent step. It will help in managing supply-side bottle... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and Proptiger.com With a view to supporting the economy in general and real estate in particular in the wake of Covid-19, the government has in the recent past made a series of announcements. The RBI decision to further reduce the repo rate t... Read more...
May 2020 ,
by Realty Plus in Realty+ Connect
Lincoln Bennet Rodrigues, Founder and Chairman, Bennet & Bernard Group Today’s rate cuts along with the further extension of loan moratoriums by 3 months is definitely a welcome move and will benefit the real estate sector in the near future. It will enable banks to lend even more... Read more...
May 2020 ,
by Realty Plus in EXPERT ZONE
J.C. Sharma, Vice Chairman & Managing Director, SOBHA Limited The government, the Finance Minister and the RBI have taken timely and effective steps to mitigate the economic impact of COVID-19 and maintain financial stability in the country. The RBI Governor has announced several ... Read more...