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India: Real estate industry says RBI rate cut to boost housing demand by buyers

Posted on 30 January 2013

Real estate industry and property consultants today hailed the RBI’s decision to cut key policy rates, saying that it is a positive step that would boost housing demand and encourage foreign investment in the sector.
The RBI cut short-term lending rate, called repo, by 0.25 per cent to 7.75 per cent and Cash Reserve Ratio (CRR) by a similar margin to 4 per cent, releasing Rs 18,000 crore primary liquidity into the system. Developers and consultants expect the move would lead to reduction in interest rates for buyers as well as builders………………………………………..Full Article: Source


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