Quote on RBI Policy Rate Cut by Ashish Raheja, MD Raheja Universal

“Governor Dr Raghuram Rajan in the first bi-monthly policy statement has reduced the repo rate by 25 basis points to 6.50 and is a welcome step. This we believe will surely have a positive impact on the economy as well as across sectors at large. More specifically from the real estate sector perspective we believe that there will be some renewed interest from prospective home buyers who were hit recently by the ready reckoner rate hike across Maharashtra. While this move is positive it is left to be seen whether banks will pass on these benefits to their customers.”