The Reserve Bank of India cut the repo rate by 0.25%, a move welcomed by realtors but deemed insufficient by some developers who believe a larger cut is needed to significantly impact the real estate sector.
Assotech and Sun-Apollo announce a Rs 500 crore housing project in Gurgaon, located on Dwarka Expressway, with the development of apartments and villas.
Fund-starved realtors may receive relief as banks consider lending on a case-by-case basis, especially for those with genuine liquidity issues. This follows PM Manmohan Singh's assurance and RBI's recent moves to provide liquidity.
The real estate sector faces a crisis due to tight liquidity and rising interest rates, impacting construction and employment. Industry leaders urge for policy changes to facilitate funding.