Realtors bank on RBI rate cut

50 basis point reduction in repo rate likely to boost housing demand and improve sales

- PTI

Realtors' apex bodies CREDAI and Naredco expect at least 25 basis points reduction in repo rate by the RBI on Friday and said it will help a lot in increasing demand for residential properties.

The RBI's rate-setting panel started its three-day brainstorming on monetary policy on Wednesday, and Governor Sanjay Malhotra will announce the decision on the key benchmark lending rate on Friday morning.

"We are expecting 50 basis point reduction in repo rate. This will boost housing demand to a great extent," CREDAI National President Shekhar Patel told PTI.

He said there should be at least 25 basis points cut.

"Housing demand in the last three months has been a bit slow. So, the rate cut will help immensely in improving the sales," Patel said.