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RBI Policy Review - Quote by M3M, Vatika and MAPSKO Group

India 5 October 2016:

"We welcome first step taken by New  RBI Governor. The repo rate cut will complement government’s initiative to pull back the economy on track. This rate cut would mean lower EMIs/Cost and thus will have positive impact on Real Estate and Other Large industries. Softening of Interest rates will definitely raise the number of potential home buyers and hence will lead to an increase in overall real estate demand. Simultaneously it’s very important that banks pass on entire benefit ahead, which will further fuel the growth and development. -Mr. Atul Banshal, President- Finance and Accounts, M3M

"This news has come at the right time of Navaratri when we are witnessing the positivity of both sentiments and sales in our industry." - Vineet Taing , President - Vatika Business Centre

"We welcome the decision of RBI, the reduction in repo rate is a positive development for the Indian economy, and this is expected to infuse more liquidity in the system. This will bring about a much needed relief for the real estate sector. The sector has been suffering from sluggish demand for quite some time now and the rate cut will lead the banks to offer loans at better rates. This will serve as a boost for the sector with buyer sentiment turning favorable. It will reduce the cost for home buyers as well as the developers because it would allow banks to lower down the interest rates. This change in circumstance will ensure heightened property demand in the coming times. We are happy that RBI has taken into consideration the liquidity concerns of the sector."  - Rahul Singla, Director, MAPSKO Group