Wednesday, March 4, 2015

#CREDAI welcomes #RBI announcement to cut repo rate

Speaking on the development Mr. C Shekar Reddy National President CREDAI said," Considering the overall economic situation and challenges being faced by the industry, we welcome the 2nd reduction in repo rates from January 2015, with the hope that it translates into lower rates for home loans, which will ease the burden on the home buyers and create a positive traction in demand for housing. However there is a need for larger cuts in the interest rates to facilitate reduction in EMI’s & increasing the eligibility of a common man to purchase a house. “