The Free Press Journal-RBI Cuts Repo Rate By 25 Basis Points To 6.25%; Real Estate Sector Hails Boost For Homebuyers And Developers
The Reserve Bank of India (RBI) announced a 25 basis point cut in the repo rate, bringing it down to 6.25%, marking the first reduction in five years. The real estate sector has welcomed the move, anticipating a boost in homebuyer sentiment and increased affordability in the housing market.
Dr. Niranjan Hiranandani, Chairman of NAREDCO, called the rate cut "long-awaited and strategic," emphasizing that it would enhance market resilience despite global uncertainties. He noted that combined with recent budget tax benefits for the middle class, the lower interest rates would encourage home purchases.
