April 5 2016, 22.12 PM IST || Pocket News Alert
RBI has cut its REPO Rate by 25 bps and it now stands at 6.5%. We have drafted a statement on this to be shared with media. Mentioned below is the draft statement for your perusal and approval at earliest.
“The revision in the REPO rate will positively impact the sentiments surrounding the real estate market. Banks will now be able to offer loans at more attractive rates. Cheaper loans for home buyers will prompt a renewed interest in residential property purchase from end users and investors. The cost of funding for real estate developers should also reduce marginally. Developers will welcome this move as the lower cost of funds always result in better economy and overall growth this move definitely indicates a positive direction for the economy in general and therefore also for the real estate sector.”