Realtors welcome rate cut; seek more reduction to boost sector

RBI decision to cut key policy rates by 0.25 per cent, the real estate sector today said there is a need for further reduction so that the interest cost to builders and home buyers falls considerably. 

CREDAI has over 10,000 members across the country. The Reserve Bank today cut the short-term lending rate, or repo, by just 0.25 per cent to 7.25 per cent and kept the liquidity enhancing cash reserve requirement unchanged.