RBI cuts repo rate by 25 bps to 7.5%; keeps CRR unchanged

Mr. Shishir Baijal – Chairman & Managing Director at Knight Frank India

ShishirThe RBI has given a pleasant surpirse by slashing the repo rate by 25 bps to 7.5 %. It is a relevant & prompt move keeping in mind that the budget had spelt out reasonably good fiscal consolidation measures. Since the budget did not give substantial impetus to the real estate sector other than the REIT clarification, this move definitely confirms a lower interest rate regime in 2015 which will help all stakeholders to heave a sigh of relief.”

Mr. Anil Saraf, CMD, ASF Group.

Mr. Anil Saraf - ASF Group“Mr. Arun Jaitely’s first full budget provides a road map for realizing India’s growth potential, and fosters the much needed consolidation to infrastructure. Taking cue from the union government’s emphasis on growth and development, we can now expect the RBI to have more room for lowering the interest rates. A combination of tax incentives and lower home loan rates will surely give a much needed fillip to real estate sector. Rationalization of capital gain tax regime for REITs is also a welcome move, which will provide more investment opportunities to people having disposable incomes. Monetization of Gold is another positive step, which will enable investors to monetize their investments in Gold and seek other investment avenues, including by way of real estate. The only disappointment is that the housing sector has not been accorded infrastructure status which lets hope will come by surely, sooner than later. Net-net, this is a forward looking budget, aimed at wholesomely attracting investments from domestic as well as foreign entities “

Mr. Manoj Gaur, MD, Gaursons India ltd & President CREDAI Western UP

Mr. Manoj Gaur, MD, Gaursons India Ltd........ (1)It is a surprise gift by RBI to the home loan seekers in India. Now we are waiting for the banks to cut down a bit on home loan interest rates so that buyers can get lower EMIs. This step — the second in three months — reflects that the government is gradually working towards providing housing for all”.
                                                                                                                             Sanjeev Varshney, MD, Prop Leverage  
Mr. Sanjeev Varshney, Managing Director, Prop Leverage_a“The cut in repo rate will definitely help the real estate sector gain some steam. People have been waiting for the house prices to come or for the EMIs to rationalise, and this cut in repo rate will definitely mean a good drop in EMIs. We expect that this Holi will be a good one as people will love to take advantage of the RBI’s gift”.
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