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Well-Timed RBI showers rate-cut bonanza

Coming in the midst of the festival season, just a few weeks before Diwali, the RBI decision to reduce repo rate by 25 basis points has galvanised the real estate industry across board. Most developers, already busy planning incentive schemes to attract homebuyers, are highly encouraged by the added impetus provided by the apex bank. The only hope which is uniformly expressed by them is that banks now pass on this benefit to consumers by cutting down the home loan rates.