| 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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