Real Estate Consultants Disappointed With Rbis Decision Regarding Repo Rate

Real estate industry was anticipating further cut in the CRR and repo rates in order

to generate assurance in the already complicated situation of the industry, says Noida based real estate consultant Mohd Afsal Khan. Reserve Bank of Indias (RBI) credit plan never bring regards to the overall pattern in the property industry, as the main financial institution did not make any change in its key prices in contrast to the objectives, he added. While providing the press declaration on this decision, the RBI attracted particular attention to the issue of blowing up in the country. Further reduction in the plan amount at this point, rather than assisting development could aggravate inflationary demands, the RBI said.

According to Simon Johnson, Primary Economist, RICS, For the property industry specifically, the determination of a generally limited financial position is likely to keep act as a move on development over the balance of this year with the progress in development outcome likely to slacken further. This will be particularly noticeable in some key personal marketplaces where supplies deficits will keep prices down in the face of the gradual economic picture. The prices of luxury residential apartments in Noida are likely to remain the same. He expected that a further amount cut is likely to happen in the coming months.

There is also a view that a decreased CRR and repo/reverse amount cut do not instantly convert into significantly lower prices for home mortgages. Banks have to take into account other factors before determining on decreasing their prices for store customers who would have forced the sales amounts in the residential apartments in Noida, says Sanjay Dutt Professional Handling Home, South Japan, Cushman & Wakefield. He contributes that for designers, in any case, funding options from the financial industry have been limited since some time and they have had to mainly rely on other resources such as ECBs and PE investment strategies. Hence, they will mostly remain in a position quo.

Gaurav Mittal, Relating to Authorities Member, CREDAI & MD, CHD Developers Ltd outlined that the RBI has taken a careful position by maintaining the repo amount and the CRR the same. The step has been taken as a result of the strong inflationary demands. However, considering the circumstances of the effective industry and the lack of funds, especially in the property industry, a rate cut would have been a advantage and driven development. RBI must take cognizance of this fact and we hope for a rate cut in the next plan to generate more assets in the marketplace, he said.

by: Rahul Chauhan

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