Boman Irani, President, CREDAI National.
"The RBI’s decision to reduce the repo rate by 25 basis points to 6.25% supplements recent announcements in the budget aimed at boosting spending and spur economic growth. This supportive monetary policy was imperative, especially after the recent 50-basis-point reduction in the Cash Reserve Ratio (CRR), which has already injected significant liquidity into the banking system. As inflations continues to remain a notch higher than the medium-term target of 4%, the central bank has its task cut out - Contain inflation, inject liquidity into banking system and cut repo rates in the coming quarter too. While the current cut may have a limited direct impact, we anticipate that a further rate cut in the next MPC meeting will provide stronger impetus to overall demand, accelerating housing sales, particularly in the mid-income and affordable segments. Together, these measures signal a robust framework for sustainable growth, fostering confidence among homebuyers, developers, and investors alike” Boman Irani, President, CREDAI National.
Anshul Jain, Chief Executive, India, SEA & APAC Tenant Representation, Cushman & Wakefield.
"RBI's decision to cut the repo rate by 25-basis points to 6.25% is a well-timed and much-needed move. With CPI inflation easing and Q2-FY25 GDP growth slowing, this was an opportune moment for the RBI to initiate rate cuts. This move is going to help revive growth in consumption, and it will also help reduce borrowing cost for the interest rate-sensitive housing sector, particularly in the affordable and mid-income category homes. The recent measures in the Union Budget along with the RBI policy decision has offered a much needed stimulus for sustained growth in the residential market."
Rakesh Bohra, Chief Operating Officer, Pioneer Urban Land & Infrastructure Ltd.
"The RBI's decision to cut the repo rate by 25 basis points to 6.25% is a timely and much-needed step to provide the long-awaited boost to the economy. This decisive and welcome move is set to drive both sectoral and overall economic growth. The rate cut comes at an opportune moment, aligning with the ongoing decline in inflation, which is expected to ease further. Combined with the strong support for urban development in the Union Budget 2025, this policy shift will have a lasting positive impact on the sector, bringing the industry closer to a more developed and resilient future."
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