Comments of Mr. Pradeep Jain, Chairman, Parsvnath Developers on RBI's Rate Cut

“Mr. Rajan is slowly becoming a man of surprises. Indeed, it is a welcome move by the apex bank. This will give a much needed respite to the real estate sector in particular which was unfortunately left unheard in the Union Budget. A 25 bps cut would ease out liquidity in the market and would push sales. It would also encourage banks to cut lending rates significantly. At a time when real estate sector is struggling with demand supply gap with supply of a higher side, this step of RBI shall bring in cheer and boost sentiments. Had this decision come after receiving infrastructure status in the Union Budget, the magnitude would have been amplified. We thank Mr. Rajan for being the harbinger of happiness and urge Hon. FM to reconsider giving infrastructure status to real estate.”