Sunday, Sep 15 2019 | Time 23:41 Hrs(IST)
  • Battle against weather in MP, admin in top gear
  • Curfew imposed in Kishtwar after JeI founder dies of illness
  • Senior Taliban commander killed in airstrike in Northern Afghanistan - Defence Ministry
  • BJP sidelining democratic ethos to solidify dictatorship :Akhilesh
  • New Dhaka Metropolitan Police commissioner ready to work as OC if needed
  • Life thrown off gear in MP districts
  • Sardar Sarovar Narmada dam : Water recedes after attaining maiden 138 68 m FRL mark
  • Metro Rail becomes political battleground in MP
  • Egyptian Interior Ministry says eliminated terrorists plotting attacks on Military
  • Japan keen to provide long-term cooperation for Bangladesh’s socioe conomic development: envoy
  • CBI writes to top state govt officials after Rajeev Kumar ignores summon
  • I aim to make Cong stronger: Jyotiraditya
  • Union govt to create 1 5 lake health and wellness centres by 2022: Harsha Vardhan
  • Tourist Launch Capsize: 25 fear drown, 8 bodies retrieved, 27 rescued
  • ‘Aapki Sarkar-Aapke Phone Par’ in MP
States » South

Real estate welcomes the overdue repo rate cut

Hyderabad, Feb 7 (UNI) RBI’s decision to slash the repo rate by 25 basis point to 6.25 per cent is a welcome and unexpectedly positive move, given the sops that the recent expansionary budget gave to farmers at an additional cost of Rs 75,000 crore per annum, said Anuj Puri, Chairman - ANAROCK Property Consultants.
Anuj said it was also overdue, as this has been the first cut in a long time and it definitely augurs well for the real estate sector which also received a budget bonanza in the previous week.
Rate cuts give a substantial push to property buyer sentiments, and it was certainly high time for such a cut, he said home loan interest rates increased by as much as 5-7 per cent in the last one year because the RBI hiked its repo rates by 50 basis points over the same period. In other words, home loans had become a more expensive proposition.
However, the real estate market does not depend only on marginally improved buyer sentiment - there are larger issues that hold the sector hostage right now. The liquidity issues post the NBFC crisis are a bigger concern, he said.
NBFCs and HFCs have seriously curtailed disbursements to developers. Moreover, the repayment capabilities of many developers are also in question, he stated.
Though the current account deficit (CAD) widened to 2.9 per cent in December, inflation targets are more or less within control and the GDP is estimated to grow at a very healthy 7.5 per cent in the new fiscal.
Going by these indicators, the Indian economy is looking at a good financial year ahead - always assuming that a stable government is voted to power in the upcoming general elections, he opined.
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Saksham to set up 150 Divyangan Seva Kendras across country : Union Minister

15 Sep 2019 | 10:50 PM

Hyderabad, Sep 15 (UNI) Union Minister of state for Social Justice and Empowerment, Krishan Pal Gurjar on Sunday said Saksham, the National Non Profit Body, would set up ‘ Divyangan Seva Kendras ‘in 150 districts across the country.

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Man kills wife suspecting fidelity in AP Village

15 Sep 2019 | 10:14 PM

Kakinada, Sep 15 (UNI) A man has brutally killed his aged wife suspecting her fidelity by smashing her head with a hammer while she was fast asleep at his house in Vengayammapet village under Draksharama police station limits 45 kms from here in wee hours of Sunday.

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School Headmaster found dead under suspicious circumstances in AP

15 Sep 2019 | 10:06 PM

Kakinada, Sep 15 (UNI) In a case of suspicious death, a teacher’s body was found in a pool of blood at his residence in Toorangi, a suburb 10kms from the city on Sunday .

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Union govt to create 1 5 lake health and wellness centres by 2022: Harsha Vardhan

15 Sep 2019 | 9:20 PM

Kolar, Karnataka, Sep 15 (UNI) Union Minister for Health and Family Welfare Harsha Vardhan said on Sunday that 1.

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Tourist Launch Capsize: 25 fear drown, 8 bodies retrieved, 27 rescued

15 Sep 2019 | 9:19 PM

Kakinada, Sep 15 (UNI) In one of the major boat disaster, at least 25 passengers were feared drowned when a private Tourist Launch 'Royal Vasista' with approximately 60 passengers on board capsized in River Godavari in Katchuluru village of Devipatnam Mandal in East Godavari District of Andhra Pradesh on Sunday afternoon.

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