RBI rate cut to boost housing demand; more steps needed to improve liquidity: Realtors

Realty players and consultants Thursday said the RBI's move to cut lending rate will boost housing demand, but called for more steps to improve liquidity in NBFCs and housing finance companies.

CREDAI National President Jaxay Shah hailed RBI's decision, saying that "the consequential reduction in EMI burden for the consumers should pep up the housing demand further."
JLL India CEO Ramesh Nair said: "The timing of the reduction in policy rate could not have been better. Not only will this improve the overall sentiment, but will also boost the housing market that is already showing signs of recovery."
Cushman & Wakefield India Country Head and MD Anshul Jain said: "We expect that this will cheer the sector with home loans set to be cheaper and even industry loan cycle shall be kickstarted and allow some headroom to developers, especially in the residential space."
Tata Realty MD & CEO Sanjay Dutt said this would definitely prove to be beneficial for the real estate sector. However, he said "we feel that the liquidity crisis in the NBFC sector needs to be addressed immediately as well."
Century Real Estate MD Ravindra Pai said "we hope the banks will pass on the benefits to home buyers, thus boosting their purchase decisions which in turn will help the sector."