Financial Express-Lower borrowing costs to make housing more affordable, stimulate realty growth
India’s real estate industry hailed the Reserve Bank of India’s decision to reduce the key interest rate by 25 basis points on Friday, saying this rate cut will have a positive impact on the overall sector, making home loans more affordable and increasing demand for housing.
“With lower interest rates, we expect to see increased sales, improved liquidity, and a reduction in the inventory of unsold homes. This, in turn, will encourage developers to launch new projects, creating new opportunities for homebuyers and investors,” said G Hari Babu, National President of NAREDCO.
