Real estate industry Thursday said the RBI’s decision to cut repo rate would help in revival of housing segment, provided banks pass on the benefit to home buyers.
The RBI lowered the benchmark lending rate by 25 basis points to a nearly nine-year low of 5.75 per cent.
Commenting on the policy, CREDAI President Satish Magar said the rate cut augurs well for the Indian real estate industry and would have a significantly positive impact on industry’s revival as well.
He expected that the benefits of lower repo rate would be duly passed on to the borrowers. CREDAI Chairman Jaxay Shah said: “Repo rate cut is just what the industry is looking forward to accelerate investments...The next step is to ensure that the banks and financial institutions pass on the benefits of lower rates of interest to borrowers”.