Mumbai: “The real estate industry expresses its displeasure over today’s announcement by Dr. Raghuram Rajan, RBI Governor on the unchanged RBI policy said, Mr. Rajesh Prajapati, MD, Prajapati Constructions.”

The status quo by RBI discourages home buyers as well as developers. This is a grave injustice. The entire buyer-developer community was expecting the reduction in the interest rate; so that the burden of EMI can come down, however the RBI has disappointed all.

On behalf of the developers and the buyers, I request the Government to intervene and take some steps to ensure that the general buyers get affordable finance. This will help the Government to achieve it’s much published ‘Housing for All’ plan.

He further emphasized that RBI must look at real estate with new optimism.