It will further impact the ailing sector

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“The realty sector was expecting a cut post-demonetisation especially when even the last time, RBI did not cut repo rate. The real estatesector needed some boost in terms of lower borrowing costs. Housing demand(absorption) across key cities has already declined by 31 per cent largely on uncertainty post-demonetisation.  As real estate sector is sensitive to repo rate cuts which leads to lower borrowing costs for homebuyers and triggering demand, this announcement will further impact the ailing sector.”

Samir Jasuja, Founder & CEO,  PropEquity