Leading real estate players are optimistic about the RBI’s move to cut CRR and believe that this will help the flow of funds in the realty sector, enabling faster execution of projects. The CRR cut can also influence the boost of the realty market, provided there is a decrease in interest loans.
Mr. Pradeep Jain, Chairman- Parsvanth Developers, Mr. Rohtas Goel, Chairman and MD- Omaxe and Mr. Punit Beriwala, MD-Vipul’s Ltd, are all in approval of this step taken by the RBI and feel that it will revive and stabilize the market and are also hopeful that this may impact a reduction in the interest loan.
However, Mr.Parry Singh, MD-Red Fort Capital, says that for the success of this step, the RBI needs to strike a balance between the provision of liquidity and control of inflation, through CRR or SLR reductions.