Realtors seek lower interest rates
RBI MPC will announce decision on Fri; Experts forecast rate cut in near future
Further Push
♦ Indian economy is looking robust
♦ Receiving high investments across businesses
♦ A recovery in property prices and rise in yields make investment attractive
♦ However, lower rate will encourage property buyers
Chennai: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is expected to retain the repo rate at the current level though a reduction in the rate in the near future is preferable, said officials in the real estate and financial services sectors.
The three-day meeting of the MPC is being held on October 4-6. The decision of the MPC will be announced by the RBI Governor, Shaktikanta Das on October 6.
“The economy is looking robust with high investments across businesses in recent times. A recovery in property prices and rise in yields has made investment in residential properties attractive yet again and has been responsible for continued demand in the sector,” said Ramani Sastri, chairman and managing director, Sterling Developers Pvt Ltd.
