Credit Policy Review - Gaurav Mittal, MD - CHD Developers Ltd
April 5 2016, 18.46 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 central bank’s decision to reduce repo rate by 25 basis points will make home loans cheaper, and also increase liquidity in the banking system. We are hopeful that the increase in the liquidity along with the improvement in the health of the economy will boost demand. Cheaper loans for home buyers and rising demand will create renewed interest in residential property purchase from end users.”
Respondent – Mr Gaurav Mittal, MD- CHD Developers Ltd
Mr. Gaurav Mittal, Managing Director, CHD Developers Ltd.
Quotes By Mr Ashish Raheja MD ,Raheja Universal on RBI Policy
Policy Rate Cut
Ashish Raheja- Director
Governor Dr Raghuram Rajan in the first bi-monthly policy statement has reduced the repo rate by 25 basis points to 6.50 and is a welcome step. This we believe will surely have a positive impact on the economy as well as across sectors at large. More specifically from the real estate sector perspective we believe that there will be some renewed interest from prospective home buyers who were hit recently by the ready reckoner rate hike across Maharashtra. While this move is positive it is left to be seen whether banks will pass on these benefits to their customers.
BRIEF PROFILE- ASHISH RAHEJA
Ashish S. Raheja is the Managing Director of Raheja Universal Ltd. He was appointed as a Director on April 10, 1996 and as the Managing Director of the Company on January 15, 2004. He has a bachelor’s degree in commerce from Sydenham College of Commerce and Economics and was a gold medallist in financial accounting and auditing.
As M.D. of Raheja Universal (Pvt.) Ltd. (RUPL), Ashish is accredited for his dynamic leadership and transforming the company from a family-owned enterprise into a professionally-managed Corporate. He has over a decade of experience and is responsible for land identification & acquisitions and project conceptualization. He has driven Mega Projects in Residential and Commercial segments.
He has facilitated over 6.05 Million Sq Ft of Completed Projects with a multitude of premium/luxury projects across Mumbai,
He was honored with the coveted ‘Developer of the Year’ Award by The Economic Times ACETECH 2010. Construction Source India in association with CNBC Awaaz-TV 18 also honoured him with the Young Visionary Award in Real Estate Infrastructure in 2009.