RBI rate cut - good beginning, but more expected, says Rajesh Prajapati


Mumbai, January 16, 2015: The real estate industry welcomes the announcement of Dr. Raghuram Rajan, RBI Governor on a cut of 25 basis points in its repo rate as a good beginning said, Mr. Rajesh Prajapati, MD, Prajapati Constructions.
RBI rate cut - good beginning, but more expected, says Rajesh Prajapati

”It is a first step among the many expected, and a long awaited one, which will propel the growth of the real estate industry,” he said.

“We are happy to now see a possibility of single digit home loan rate after many years which will act as a catalyst, attracting and making possible more and more home buyers to buy their dream home,” he said.

He expected the rate to further come down by 200 bps which should see home loan rates stabilize at around 8%.

“We are happy to see these positive steps initiated by the government. The real estate industry has long been neglected and it is time now that we are granted industry status, it is the second largest employment generator in the country, only after agriculture”, added Mr. Prajapati.