A Positive Effect On Residential Market

Anshuman Magazine, Chairman & CEO - CBRE India, South East Asia, Middle East & Africa   “The RBI’s move to cut repo rate by 0.4 basis points will have a positive effect on the residential property market. This is a clear step towards reducing lending rates, encouraging liquidity, preserving financial stability and supporting overall economic growth. The reduction in reverse repo rate will encourage banks to lend more and extension of moratorium on EMIs on term loans by another six months and steps to ease cashflow burden on borrowers will improve overall sentiments and market performance. It will also encourage consumers to borrow more from banks due to the lowering of lending rates.  We welcome these announcements as they are directed towards infusing liquidity and strengthening consumption, thereby giving a push to economic recovery.”