The demand for residential in the real estate space has been poor by Sanjay Dutt, MD & CEO, Tata Realty & Infrastructure Limited

The quote of Tata Realty & Infrastructure Limited:

“It’s not about repo rate cut but the transmission and high spread lenders are still charging with the exception of few.

The RBI’s decision to cut repo rate by 25 basis points to 5.15% is the 5th consecutive rate cut this calendar year, in total 135 bps. However, it seems that the weighted average lending rate on fresh loans by commercial banks has not reduced in sync, at least until the last rate cut in August it reduced by only 29 bps, which is hurting and has raised a concern on whether this is adequate to arrest volatility in markets, cool down the overheating political climate and bring GDP growth back to 7-8%. More decisive 30-40 basis cut was envisaged by many. The markets overall are disappointed.

 

Mr. Sanjay Dutt, MD & CEO,
Tata Realty & Infrastructure Limited

The demand for residential in the real estate space has been poor. 

The repo rate cut coupled with slashing of corporate tax rate to 22% and set up of Stress Fund of INR 20,000 crore are all measures to help revive the industry and thereby the economy. We believe this may not be adequate. Rise in NCLT cases is also not helping the sector.

We look forward to the Government’s constant support to help bring the real estate industry back to global forefront while ensuring the overall economic growth of the country”

-          Mr. Sanjay Dutt, MD & CEO, Tata Realty & Infrastructure Limited

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