RBI reduced the repo rate further by 25 bps which makes it third reduction in the year – Mr. Rakesh Reddy, Director, Aparna Constructions & Estates Pvt. Ltd

New Delhi, June 07, 2019: The Reserve Bank of India’s decision to lower the REPO Rate by 25 basis points to 5.75% will provide much-needed encouragement to homebuyers and the real estate sector at large. Lowering the rate is a fillip for the sector which has been witnessing strong signs of revival for the past six months.

The rate cut is expected to lower EMIs on home loans, and reduce the debt repayment burden on developers. This presents a great opportunity for the sector as the ease of financing should translate into increased sales and project launches. The lowering of interest rates combined with recent policy interventions including the implementation of RERA and GST rationalisation will go a long way in reforming the sector and inspiring consumer confidence. Overall, the decision will have a positive impact on all stakeholders. Reducing the REPO Rate will prove beneficial from a consumption and lending perspective. This will spur demand across all segments.

Moving forward, we hope the RBI will continue to take positive steps to capitalise on the renewed growth of the real estate sector, and ensure momentum is maintained far into the future.”

Corporate Comm India(CCI Newswire)