Realtors discontent in the status quo RBI monetary policy

New Delhi: India (CREDAI), the National Association of Realtors highest body of real estate developers association, expressed disappointment Tuesday in the central bank's policy is to maintain the key interest rates unchanged, as it seeks to cut interest rates to boost housing demand.

"Federation of Indian real estate developers association said the current situation and requirements disappointed RBI policy rate cuts, lower entry barriers to facilitate and promote the needs of the real estate industry," the organization said in a statement.

There is a need to develop a formula that enables independent housing loan interest rates of inflation, taking into account the mission to 2022, and the impact on GDP growth triggered the real estate industry index to provide housing for all, CREDAI said.

"The real estate industry has been involved in the land, labor, raw materials, capital and high rates of taxation with moderate demand in the past few months, the high cost. Industry is looking forward to reduce interest rates and improving mobility, ushered in the growth and development.

The fourth time in a row, the central bank kept its key interest rate unchanged vertex Tuesday that it will not cut interest rates, unless the expected level of inflation moderates, disappointing borrowers and the industry in this festive season. (Read more)


"Waning inflationary pressures, as well as improve the performance of the manufacturing, construction and services sectors are encouraging signs of further improvement in the economy in the second half of this year, any reduction in the benchmark interest rate in the coming months will be the true indicator of positive real estate industry, "he adds.

The real estate industry is facing a huge slowdown in demand, particularly in the housing sector, because in the past few years, due to high interest rates on housing loans and property costs.
SOURCE : WEB