RBI could have done more to boost property market, say developers

Sales and new launches have declined as developers have been focusing on complying with Rera

Though the Reserve Bank of India’s (RBI’s) move to cut repo rates by 25 basis points brought cheer to property developers, the central bank could have done more to help the sector, they said.
 

Besides a slowdown, developers are battling issues surrounding the goods and services tax (GST) which has hit the sales of premium apartments and the Real Estate (Regulation and Development) Act or Rera, which is strict on compliance. Sales and new launches have declined as developers have been focusing on meeting Rera compliance.

“While it remains for the Monetary Policy Committee (MPC) to decide, India's business and