Comments
The Confederation of Real Estate Developers’ Association of India (Credai) has expressed its unhappiness over the status quo on repo rate contrary to the general expectation that there would be reduction.
The association welcomed the move to reduce the SLR (statutory liquidity ratio) by 50 bps as this would place more funds in the hands of the private sector for lending. It has pinned hopes on RBI to reduce the interest rates post the general budget.
C Shekar Reddy, President Credai-National, said: “Considering the overall economic situation and challenges being faced by the industry, we were hopeful that RBI would continue the initiative taken in January with a further reduction in policy rates.”
However, he said: “We are hopeful that with the increased liquidity, banks and financial institutions will fund liberally to the real estate sector and pass on the benefits to the end-user. This will trigger the demand and increase the off-take of housing.”
“We are hopeful that keeping in view the low inflation, RBI will consider change in its stance in the monetary policy and address the industry concerns for growth and reduce the rates post the budget,” he said.
He hoped the upcoming budget would address the concerns of the real estate sector.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.