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Gurgaon real estate developers rejoice better future as Repo rate goes down
he fact that the Repo Rate by the Reserve Bank of India has been slashed by 25 basis points from 8% to 7.75% with the immediate effect is old news now. We know, it would ensure customers with an easier life in many ways, but how does the real estate builders feel about it? Talking about some of the builders in Gurgaon, we get a better understanding of the same.

Mr. Neeraj Gulati, MD – Assotech Realty Pvt Ltd

Neeraj Gulati''We as developers hail the decision taken by the apex bank to slash the repo rate by 25 BPS which came to us as a sigh of relief. For the customers, it creates an opportune time to invest for their dream home as real estate prices are at its all time low. This would bring forth liquidity in the market which would act as a booster for the real estate sector as a whole. Finally, the RBI has taken the cognisance of the situation and had been able to steer it towards the trajectory growth path. It will be a win-win situation for all the stakeholder across the realty sector'' 

Mr. Gaurav Mittal, Managing Director, CHD Developers Ltd

''We appreciate the decision taken by the Apex bank which will infuse liquidity in the real estate sector. The much awaited move has brought a sigh of relief not only for developers but also for home buyers who were waiting for the market rectification. The market after a long time of sluggishness has started witnessing ripples for positive trajectory and with the reduction in home loans and economical options available for home hunters, this is the best opportunity in 2015.'' 

Mr. David Walker, Managing Director of SARE Homes

David Walker"THE RBI cutting rates is confirmation that inflation and future expectations of inflation are well within RBI's comfort zone of 6%. The 25 bps cut in the repo rate is an inflection point and further cuts are expected in the future months. This measure will definitely cheer up the markets and financial institutions will pass on this reduction to customers. This in turn will give buyers confidence that with lower EMIs property purchase are more affordable, and now is the right time to buy a home. This sentiment will help boost demand and stimulate growth." 

Mr. Pradeep Jain, Chairman, Parsvnath Developers

Pradeep Jain''It was a much awaited move by RBI, though came as a surprise. In fact, this decision was on the cards. Inflationary pressures are working below the expected trajectory since July last year giving RBI a much desired space to free its arms. We were hopeful that the apex bank would lower the key rates in its Feb 03 review. Real estate sector has been struggling since last three quarters with lower demand and increasing inventories. Today's decision would help reduction in EMIs thereby encouraging fence sitters to conclude deals. Developers would also get funds at comparatively lower rates.

As Honb'le FM is meeting all the bankers today, this decision of rate cut is surely a positive indication of a brighter days ahead. We expect banks would also lower down their interest rates with immediate effect. We expect this year's Union Budget would also bring same cheer to the industry and real estate sector in particular by awarding it infrastructure status which will enable it seek long term loans and a lower interest rate.''

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