Wednesday, Jun 26 2019 | Time 05:25 Hrs(IST)
  • Georgian Foreign Minister regrets PACE's decision to restore rights of Russian delegation
  • Russia, Syrian forces exclusively strike objects verified by intelligence - Nebenzia
  • Iran will not renegotiate nuclear deal on any conditions - Rouhani
  • Cameroon lead AFCON Group F after 2-0 win over Guinea Bissau
  • MP CM’s Indore visit itinerary
  • IOC lauds Beijing 2022 preparation
  • US envoy meets representatives of Sudan's military council, opposition to push for talks
  • Pompeo says had productive talks on Peace process in Afghanistan during surprise visit
  • Tariff tensions send U S consumer confidence to lowest in nearly 2 years: survey
  • Jordan urges intensified efforts to achieve lasting Mideast peace
  • US sanctions on Iran’s supreme leader futile, insult to Iranian nation - Iranian Gov't
  • Saudi crown prince to lead delegation to G20 summit in Japan
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.
More News

RDO distributes free text books to school children in AP

25 Jun 2019 | 9:49 PM

Kakinada, Jun 25(UNI) Revenue divisional officer Kakinada division B Rajakumari on Tuesday distributed free text books and note books to students of AMG English medium school at a function held at the school premises in dairy farm center here.

see more..

AP to carry out massive raids to check ganja cultivation

25 Jun 2019 | 9:44 PM

Amaravati, Jun 25 (UNI) Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Tuesday said that massive raids would be conducted to destroy the ganja fields and directed officials to provide employments to the tribal people to keep them away from ganja cultivation.

see more..

First freight train with electric traction completes journey on new Obulavaripalli - Venkatachalam Road electrified section

25 Jun 2019 | 9:20 PM

Hyderabad, Jun 25 (UNI) A new dawn heralds in rail connectivity to Krishnapatnam Port as Obulavaripalli - Venkatachalam Road junction rail connectivity which met completion recently has been opened for freight train services, an official statement said on Tuesday.

see more..

Telangana Home Minister urges help of MEA bring back the body of Syed Waseem Ali

25 Jun 2019 | 8:42 PM

Hyderabad, Jun 25 (UNI) Telangana Home Minister Mohammed Mahamood Ali urged help of Union Minister for External Affairs Subrahmanyam Jaishankar to bring back the body of Syed Waseem Ali who met an accident at USA.

see more..

Madras HC grants anticipatory bail to film director Ranjith

25 Jun 2019 | 8:32 PM

Madurai, Jun 25 (UNI) Madras High Court Madurai Bench on Tuesday granted anticipatory bail to Tamil film director Pa.

see more..