Realtors relish repo rate cut by RBI

Realtors relish repo rate cut by RBI
Real estate developers and experts of various hues have lauded RBI move to initiate repo rate cut as they feel that reduction in lending rate by the RBI just ahead of the festive season will help in boosting housing demand, especially in the affordable housing segment. A good monsoon in progress, low inflation numbers, favourable global environment and an overall uptick in industry sentiments seem to be the catalyst for this rate cut, according to them. RBI has recently reduced the short-term lending rate, or repo rate, by 25 basis points to 6 percent at its third bimonthly policy review. According to Vineet Relia, Managing Director, SARE Homes 25 bps reduction in the repo rate will go hand in hand with favorable government measures like RERA and GST which will boost housing demand benefiting both developers and buyers. Echoing his viewpoint, Abhimanyu Londhe, CEO, SMC IM+ Realty Fund says, "This should also give the required boost to the Realty sector, especially in the affordable housing market," said. However Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, "Considering multiple newer reforms in force, a good monsoon in progress, benign inflation numbers, favourable global environment and the overall uptick in industry sentiments, a healthier lending rate could have provided the much needed thrust to fuel India‘s growth story."

CCEA approves ₹33, 690-cr for urban infra in Mumbai

The Cabinet Committee on Economic Affairs, which spearheaded by PM, recently approved Phase-III-A of the Mumbai Urban Transport Project involving an investment of ₹33,690 crore and the project is expected to be completed in the next five years Read More ...

DMRC delivers DPR for ₹3,300-cr twin metro corridors

The Delhi Metro Rail Corporation (DMRC) has submitted revised project reports for the Noida-Ghaziabad twin metro corridors involving about ₹3,300 crore investment. As per the revised DPR for the two Blue Line Metro extensions, Phase-3 involves Read More ...

PFC fires ₹28,500-cr in water infra projects in Telangana

In an encouraging development, Power Finance Corporation (PFC) has recently agreed to extend funds worth ₹28,500 crore for twin water infra projects in Telangana, PFC Chairman Rajeev Sharma said adding that in the first case the PFC agreed in principle Read More ...

Konkan Railway gets ₹600-cr for tunnel project

The state government in Kerala has selected Konkan Railway Corporation to execute the Wayanad-Kozhikode tunnel road, an alternative to the ghat road connecting Kozhikode and Bengaluru through Wayanad for which the state government has already Read More ...

NHAI unveils four-lane highway project in TN

In a booster to economic and industrial growth in Tamil Nadu, NHAI has decided to build a new 45.85 km 4/6-lane national highway from Melur in Madurai to Karaikudi in Sivaganga district under the Centre‘s flagship Bharatmala project. The traffic Read More ...

Pune Metropolis gets ₹1,722-cr funding booster

The state government in Maharashtra has made a provision worth ₹1,722 crore for the Pune Metropolitan Regional Development Authority (PMRDA) of which ₹320 crore has been allocated for the town-planning schemes undertaken by the nodal agency Read More ...

Hines in JV launches ₹1,900-cr project in Gurgaon

The US-based Hines group has recently entered in a joint venture with DHDL, a subsidiary of the country’s largest realty builder DLF, to jointly build ₹1,900 crore in the real estate project in Gurgaon. In this connection late last year Read More ...

NHAI takes up four-lane highway widening works

In a bid to ensure smooth movement of vehicular traffic on the Mettupalayam Road (NH-67) from Perianaickenpalayam to Mathampalayam, the NHAI has recently taken up the four-lane expansion work. The work on the 6.1km stretch for which an agreement Read More ...

GST Council offers two options for realtors

The GST Council in its recent decision has stated that real estate developers with unsold housing inventories can now choose either the old rate or the new one if the project is still under construction as on March 31. The decision also cleared Read More ...

NCR & MMR lead the way in affordable housing

According to ANAROCK Property Consultants' latest report 'Affordable Housing, the Delhi NCR and Mumbai Metropolitan Region account for 55% share of total 6 lakh affordable units launched across the top 7 cities in the country. NCR saw maximum supply Read More ...

ASK injects ₹326-cr in a real estate projects

Ensuring smooth flow of funds to the on-going real estate projects, ASK group via its private equity arm will invest ₹326 crore in housing projects being developed by QVC Realty, Tridhaatu and TVS Emerald. These projects are located in Mumbai Read More ...

Railway rolls out ₹894-cr cross-country bridge ventures

In order to avoid trains stopping at signals, the Indian Railways has decided to build 250 ROBs and RUBs at busy railway junctions identified across the country, and construction is set to start shortly. The ₹894.47 Read More ...

GDA goes for ₹649-cr Hindon-DND flyway project

Ghaziabad Development Authority has decided to build an elevated road starting from Hindon to Noida's DND flyway at an investment of ₹649 crore. Consultants hired for preparing a feasibility report, have recommended Read More ...

New policy to resolve ₹30,000-cr stalled NH projects

In a bid to unlock the money of lenders and private players, including the crisis-hit ones, the transport ministry has unveiled a policy for resolving stalled highway projects worth ₹30,000 crore. Agencies such Read More ...

Shapoorji Pallonji wins 7 Awards from CIDC

Shapoorji Pallonji's Engineering & Construction (SP E&C) Division has won 7 Achievement Awards for Construction Health, Safety & Environment (CODE – I). The Organization was recognized by the Construction Read More ...

Eicher Trucks & Buses Plans to Expand its presence in the African Market

Eicher Trucks and Buses commemorated the long-standing association with the Africa region with its participation at the 14th edition CII- EXIM Bank Conclave on India Africa Project Partnership at Taj Diplomatic Read More ...
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