RBI policy will hurt buyer’s sentiment: MCHI CREDAI
Considering the past few cuts in the rates, Industry and home buyers were expecting the similar cut this time too
Jun 18, 2013
Source : The Times of India

 

MUMBAI: The RBI’s decision to keep the Repo and CRR rates unchanged is letting the entire industries in general and housing industry in particular, down considering the slowdown in the economy.

A cut in both the rates was the need of the hour as it would have led banks to bring down the rates and made home loans affordable to the buyers. Currently, sentiment to invest in any growth or expansion of any business is low, and there was a need to provide succor to the consumers at large. Considering the past few cuts in the rates, Industry and home buyers were expecting the similar cut this time too.

The unchanged rate will hamper home buyer’s decision to go ahead with their purchases. We hope the central bank will at earliest slash both the Repo and CRR rates in the same succession as it went on increasing and derailing the entire growth of the economy,  said Mr. Vimal Shah, President, MCHI-CREDAI expressing his disappointment on today’s RBI policy announcement.

Latest Realty News

Unsold houses in Chennai pile up as sales slump
Jun 18, 2013
CHENNAI: Builders across the country have been worried as unsold housing stock have been piling up in the recent months.
SEZs spur growth of residential catchments in Bangalore
Jun 18, 2013
BANGALORE: When the Special Economic Zone (SEZ) Act 2005, supported by the SEZ Rules was introduced in 2006, the idea was to make it easier to establish large, self-contained facilities with excellent infrastructure with the aim to promote exports. As per the guidelines, SEZs can be developed by public or private players or even jointly, by State governments, their agencies, or on the public-private partnership (PPP) model.
NIMB road-Undri belt scores on accessibility and connectivity
Jun 18, 2013
PUNE: There are many areas in Pune that have witnessed tremendous growth over the years, especially in terms of infrastructure and connectivity. This development has changed the look of several areas altogether. The NIBM Road-Undri belt has affordable and profitable options closer to the city. This four-kilometre stretch is accessible and convenient and offers opportunities within a few minutes drive from Pune.
Real Estate Regulatory Bill: Pros and cons
Jun 18, 2013
MUMBAI: The Union Cabinet recently approved the creation of a real estate regulator in India, which aims at increasing transparency within the real estate sector. The Real Estate Regulation and Development Bill 2013, once enacted, would provide for a real estate regulator in each state of the country.
Infra projects a driver for realty on Mira-Bhayandar stretch
Jun 18, 2013
MUMBAI: Affording a home in Mumbai and managing to travel across the city with ease is a big challenge for Mumbaikers today. While Mira Bhayandar Road provides some respite to homebuyers with a limited budget, the region’s extensive connectivity is also a big plus.
Avalon to invest Rs 370 cr on housing project in Bhiwadi
Jun 18, 2013
DELHI: Avalon Group today said it will invest about Rs 370 crore over the next three years to develop a housing project in Bhiwadi, Rajasthan.The 18-acre project 'Avalon Rosewood' is the company's seventh housing project in the city.
Sectors 119 and 120 in Noida offer low rental values
Jun 18, 2013
DELHI: Are you looking for an affordable rental accommodation in Noida but are anxious about the rising rental values in the sub-city? You need not worry! Sectors 119 and 120 offer low rental values compared to several other residential localities in Noida.
Home buyers increasingly turn to Virar
Jun 17, 2013
MUMBAI: When Bollywood actor Govinda made his debut in the Hindi film industry, people made fun of him, labelling him ‘Virar ka chokra’, as the actor hailed from the far-flung Mumbai outskirts. Just like Govinda, Virar has come a long way since then and real estate and infrastructure development have made the area a prime location for those looking for affordable and spacious homes.
Lal dora plan to push up realty rates in Delhi-NCR
Jun 17, 2013
DELHI: A day after the Delhi government announced a policy to allow the extension of lal dora land, real estate dealers in areas like Ayanagar, Ghitorni, Sultanpur and Chhatarpur have started sniffing a windfall. If all goes well, they expect an instant increase of 20% in real estate rates from the day registration of the properties starts.
Wakad realty thrives on road connectivity
Jun 17, 2013
PUNE: Wakad, located in West Pune, was once known as an extension to Pune with no infrastructure and connectivity. Today, the locality is witnessing massive real estate development. Connectivity, infrastructure and transport facilities are the prominent features that have turned into its favour.

Latest Realty News Of State

Realty Talk's