msn.com-An Early Christmas Gift For Home Seekers?
The Reserve Bank of India (RBI) has yet again opted to make the residence purchase proposition easier for home seekers, maintaining the repo rate at 6.5% and reducing the cash reserve ratio (CRR) by 50 basis points to 4% in its policy review. Those who pair policy announcements with the next festive occasion have likened this to a Christmas gift in advance with the RBI playing Santa Claus, while simultaneously wishing the rate cut had been implemented on both.
Dr. Niranjan Hiranandani, Chairman, NAREDCO, stated that, “This adjustment retains a confident and optimistic tone while clearly conveying the potential benefits of such a policy change for India's economic landscape. Lower interest rates would have made home loans more affordable, propelling demand in the real estate sector, particularly for affordable housing.”
G Hari Babu, National President of NAREDCO, described the RBI’s decision as a balanced approach to sustaining economic stability while fostering liquidity. “This move aligns with the real estate sector's ongoing need for growth support amid evolving market dynamics.
