Quote of Mr. Gaurav Mittal, Managing Director, CHD Developers Limited
June 6 2016, 12.12 PM IST || Pocket News Alert
Commenting on the monetary policy announcements, Mr. Gaurav Mittal, Managing Director, CHD Developers Limited said, “On the backdrop of higher inflation, it was expected that RBI would maintain a status-quo on the key policy rates. RBI however has taken considerable steps to infuse liquidity in the market by reducing the lending rate by 150 basis points since 2015 and narrowing the policy rate corridor to 50 bps from 100 bps (in the first bi-monthly meeting of 2016); however; the banks need to pass on the benefits of the past policy rate cuts to home buyers by reducing the mortgage rates thereby making the home loans more affordable for the buyer.”
Quote of Mr. Neeraj Gulati, Managing Director, Assotech Realty stated on the Monetary Policy announced Today
Commenting on the monetary policy announcements, Mr. Neeraj Gulati, Managing Director, Assotech Realty stated, “The Reserve Bank of India's move to maintain status quo on key policy rates was on expected lines. A cut in rates would have certainly improved the market sentiments too and provide necessary impetus to buyer's sentiments as well. However, in the longer run we definitely foresee rate cuts that will boost the housing demand in India. We have seen few banks passing rate cut benefit to the home borrowers but we expect more banks to follow the same trend in the coming months.
It is evident that inflation is trending upwards. Coupled with this, capital investment remains sluggish and supply constraints continue to act as a dampener. All this has left very little room for the RBI to manoeuvre.”