“It’s a good news that RBI continues to maintain the Repo rate  unchanged at 4 per cent and the reverse repo rate at 3.35 per cent for the sixth time in a row. However, considering that the economic growth forecast for the current fiscal 2021-22 has been revised to 9.5 per cent from the earlier 10.5 per cent, Government should ensure that inflation is kept under check. The cost of steel, cement, labour cost and other items have gone up threatening the viability of certain projects especially those who are looking for last mile funding. The residential sector is slowly reviving as people seek to invest in safe havens for peace of mind and security amid this second wave. The rationale of lower interest rates/EMI, attractive prices, ready to move inventory, protection under RERA and attractive schemes from developers, encouraging homebuyers to invest now instead of waiting. While the government has been introducing several initiatives to help the sector, we request for some strategic support in the form of giving us industry status, input credit, allowing FDI in RTMI, single window  clearance mechanism at State level, lowered GST on raw materials etc. for sustainable long-term growth and benefit of the developers as well as homebuyers.”

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