Rate-cut at this juncture was important for sector

“In an anticipated move, RBI has maintained status quo on policy rates, however, other than inflationary pressures most of the other economic indicators which also include robust monsoon were all in favour of a rate cut and so the real estate sector was expecting relief in interest rates by the RBI. For the real estate sector a rate cut at this juncture was important as it could have easily spurred the buying activities in the upcoming festive season on the back of expected reduction in home loan rates and consequently the sector might have also achieved the much awaited growth. Of course, looking at all the economic indicators, still there has been a small window to cut rates and so we had kept our fingers crossed for the outgoing RBI Governor to once again boost the sector with giving a small rate cut in this policy review.”

Mr. Arjunpreet Singh Sahni, Executive Director, Solitairian Group