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For real estate sector, a rate-cut was desirable

Zafar Akbar, Chairperson, Exalter Group

“RBI has held the interest rates steady which was a very much anticipated move. To keep inflation under control there was little room left for a rate cut in this policy review. But then for real estate sector a rate cut was desirable as property market is going through a turbulence phase. There is a huge supply demand mismatch which has really impacted the realty sector. On the other hand, the GST implementation might trigger the property prices in future. Therefore, reduction in rate cut was very much needed to stimulate growth. This would have reduced the amount of EMI’s eventually reducing the burden of home buyers to a large extent.”

Zafar Akbar, Chairperson, Exalter Group