ICCPL PROPERTY NEWS

SHRI GROUP RECEIVES LIFETIME ACHIEVEMENT AWARD FOR DEVELOPMENT OF MATHURA

Lucknow: In an exclusive event The Hindustan Achievers Award 2015, organized at Lucknow, to honour the real estate developers for their exceptional contribution to real estate in the state of Uttar Pradesh, Shri Group, a very renowned name in the realty market of Mathura & Vrindavan received the Lifetime Achievement Award for its extraordinary contribution towards the development of Mathura. The event was attended by a huge gathering of people associated with the realty sector. The awards were presented by Shri Ram Naik, Honourable Governor of Uttar Pradesh, who was also the chief guest for the event.

Lifetime Achievement Award is awarded for exemplary contribution in a sector which not only defines the achievements the winner has had but also the path that they have set for others to follow. Shri Group is one such developer and a very established name in the realty markets of UP for its residential projects, townships and resorts predominantly in the regions of Mathura and Vrindavan. These projects carry state of the art infrastructure and have been planned keeping mind all aspects of living. This was indeed an initiative which sets them apart from others and made them torch bearers for the sector which is the reason for them winning the award.

Ecstatic over winning this award, Mr. Sudeep Agarwal, MD, Shri Group said “It is a great honour to have been presented with a Lifetime Achievement Award and we are truly obliged towards the jury who considered us for this. Somewhere we feel that we deserve to lift this award as it takes a lot of time, energy, planning, execution and funds to deliver what we have delivered in these regions for almost two decades. We have been working very hard towards adding value to structures and this award means that our efforts have been both appreciated and recognized which will surely encourage us to keep moving forward.”

About the Company:

A journey of 83 years through years of building Prosperity for All started as a commodity house in Mathura in 1931. The man behind the vision “Mathura Bane Metro” took it unto himself to radiate the city of divine Krishna with his hard work and dedication. And he lay the foundation of a secure future for the family of SHRI Group, the residents of Mathura, Today known far and beyond, the Group emerged to venture into city of Greater Noida West with a master designed by Hafeez Contractor and yet again the melodious boom is set to make a mark with quality construction and trust of customers achieved over years.

ICCPL PROPERTY NEWS

RBI RATE REDUCTION AHEAD OF FESTIVE SEASON BRINGS CHEER IN THE SECTOR

      In a much anticipated move by RBI considering the inflation entering comfort zone, the repo rate has been slashed by 50 basis points. The new repo rate now stands at 6.75 percent from the previous 7.25 percent. Reverse repo rate is now at 5.75 percent; Cash Reserve Ratio (CRR) at 4 percent and Statutory Liquidity Ratio (SLR) at 21.5 percent respectively, remains unchanged. Since the first bi-monthly RBI policy review back in January, the apex body has reduced the key rate by 125 basis points or 1.25 percent, bringing it down to 6.75 percent from 8 percent. What this suggests is that, banks will now be under pressure to lower their lending rates, the benefit of which will be directly passed on to the customers via reduced EMIs.

“The target of 6 percent inflation by January 2016 is likely to be achieved considering the major conditions that have been met since the last policy review in August. This move was thus pretty much on the cards looking at the economic recovery witnessed over the last couple of months. With various key banks in India already on a reducing rate spree, a rate reduction by RBI here will open the gates for further rate reduction by banks, thus assisting the customers with less pressure on their pockets”, elucidates Mr. Kushagr Ansal, Director, Ansal Housing. Adding to the fact, Mr. Ashok Gupta, CMD, Ajnara India Ltd. avers “RBI has been extremely pro-active in terms of bringing relief to the economy and pushing the banks forward to provide final benefit directly to borrowers through reduced EMIs. Real estate sector in particular was in dire need of repo rate reduction as we are standing right on the verge of final festive season of the year. Sentiments will now become better as customers will be expecting banks to lower their rates that will be profitable for them prior to a big purchase such as, property”.

Perfect reasons to slash rate:

With monsoon season being highly unstable, weakening industrial production and investment activities, retail and food inflation kept under check, this decision has come out as a pro-active supply side management one. “Despite the monsoon deficiency and contained food inflation pressure through resolute government actions by managing supply, the disinflation has been quite broad-based and inflation barring food and fuel has also come off its peak in June. Since the beginning of this calendar year, RBI had assured of a rate cut cycle this year which it has followed owning to the economic recovery and fair chances of meeting the target inflation by January next year. This move is greatly welcomed especially for this sector considering the rising inventory levels which will now see a momentum if banks reduce the lending rates, something that is quite evident”, explains Mr. Mukesh Khurana, MD, Rudra Buildwell.

The residual question now becomes; the extent of transmission of these cuts. Not many banks have been following the rate cut cycle, the loss of which has been pushed onto the customers. On the flipside, major banks in India such as SBI, ICICI, HDFC and few others have been keeping their lending rate cycle in sync with the RBI’s repo rate cycle. This has provided relief to a major chunk of buyers taking loans for property. Also, banks with high liquidity can easily afford to decrease their lending rates without touching the deposit rates but banks with lesser liquidity are first forced to decrease the deposit rate which on the other hand increases their liquidity then can they bear the drop in the lending rates. A drop in the deposit rate directly leads to lesser returns on investments such as fixed deposits, etc. Thus, major players of the banking industry are able to satisfy the complete demand whereas other banks can either provide higher returns on investments or charge less on the amount lent to the public. “Several banks made reduction in lending rates earlier this month and many held back as well. There exists a direct relation between reduction in lending rates by banks and an increase in demand for property. It is then just a matter of proper timing by the banks while adjusting the rates. Few days from now, the festive season of the Hindu calendar is about to commence where massive demand is observed every year, and this is the time when potential customers plan and allocate their funds for the big purchase. Thus, a fall in lending rates today will promote the sentiments in the market and allow people to strategize their upcoming purchase. RBI has played its part well today and now the ball is in banks court”, enlightens Mr. Vivek Gupta, Director, Vardhman Estates & Developers (P) Ltd.

Road to recovery all clear:

For a long while now, real estate sector has been reeling under heavy pressure of rising prices and unsold inventory across all major cities. The bigger problem is that these cities are the perfect catchment areas for the developers due to the presence of ready infrastructure and civic amenities for the future residents. Although, each year we observe heavy footfall at project sites of these regions during the festival season and thus, a slow real estate sector gets the much needed push each year towards the end of the calendar year. “We were pretty sure of a rate cut in this bi-monthly policy of RBI as the next two months are full of festivals and this time around sentiments are usually flowing well. A reduced lending rate ahead of festival season will make the property prices look lighter to the customers as monthly instalments will come down. This will enhance the purchasing power of the customers thereby allowing them even go ahead with a better purchase. For instance, due to reduced EMIs, one will be able to afford a bigger unit or a much lavish one. Hence, a much awaited road towards the recovery of this sector is looking fairly visible”, states Mr. Ankit Aggarwal, CMD, Devika Group.

Banks following the legacy:

For the last few months, banks have been on a rate reduction spree due to continuous nods by the RBI and frequent repo rate cuts as well. In the beginning of this month, HDFC had reduced its lending rate by 35 basis points bringing it down to 9.35 percent, standing shoulder-to-shoulder with ICICI and SBI. Although, SBI has announced a further rate reduction by 40 basis points, bringing its lending rate to the lowest in the industry at 9.30 percent which will be effective from 5th October, 2015. Reduced banking rates will have a positive impact on the demand for the sector, and with final festive season of the year about to commence; it will be a win-win situation for all. “The reduction in lending rates by banks has been coming at the right time as we are inching closer towards the final festive season of the year where most property purchasing takes place. It was also imperative on the banks behalf that these rates were reduced as frequent nods had already come from the RBI chief and this time also, a good 50 basis points have been reduced. Still there is ample room for lending rate reduction by banks as we see SBI has already announced a 40 basis points reduction. The platform is now all set for the realty sector to deliver its goods in the upcoming festival season in India”, concludes Mr. Deepak Kapoor, President-CREDAI Western U.P. & Director, Gulshan Homz.

ICCPL PROPERTY NEWS

EDUCATIONAL PUSH FOR THE POOR BY GULSHAN HOMZ

Delhi/NCR: As a part of their flagship CSR initiative, NCR realty major, Gulshan Homz has gone ahead and adopted a primary school in Chak Saberi Village of Visrakh, Gautam Buddh Nagar. This comes forward as a great initiative for their ongoing efforts to build a better society along with the options for a better living. Gulshan Homz is already involved with a lot many CSR initiatives which set them apart from other corporates.

The adopted P S Chak Saberi School, was a primary school established in the year 1997 and is a Hindi medium co-ed school. It runs from 1st till 5th standards and houses 8 classrooms. The faculty comprises a total of 6 teachers; 2 males and 4 females. The present situation of the school is between ridges; which is highlighted by the fact that the school has an almost empty library and also a playground but then again, not ample facilities for the students to utilize for their overall mental and physical development. The faculty members are provided residential facility in the premises itself. There are no running meal facilities for children in the school.

Gulshan Homz would be taking immediate steps setting up an activity resource centre which shall provide books, art and craft materials and colours along with sports equipment for the school children. They also plan on making provisions for safe drinking water for everyone attending. The school’s infrastructure also needs immediate attention, for which Gulshan Homz would be actively co-ordinating with local education authorities and try to achieve results fast. “Every child has the right to quality education and sports equally. Helping them have access to these will be a cherished step taken by us. Primary schools are the budding grounds for future and taking up such initiatives will definitely help us give back to the society what we can. We would love to keep building on this initiative and hope others to join on the path ahead”, said Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz. His thought clearly reiterates the commitment of Gulshan Homz to fulfil its responsibilities as a good corporate entity.

About the company:

Gulshan Homz is a leading real estate builder in Delhi NCR. Started with the core value of customer centrism in early 1990s, this company strives for excellence in their work. This they achieve by adhering faithfully to the highest ethical and technical standards of profession and business. They have always given top priority to customer satisfaction through relentless efforts to provide better services.  Customer value has been built through meeting delivery timelines.

ICCPL PROPERTY NEWS

REALTY SECTOR GETS ITS FIRST EVER PEOPLE’S CHOICE AWARD

New Delhi: In an exclusive first of its kind real estate awards, ICCPL, one of the leading PR companies of India launched, ‘India International Property Awards’-2015. In the esteemed presence of Mr. Sudhanshu Mittal, who is a prominent face in Bhartiya Janta Paty (BJP), the award night took place. The Red Carpet cum Paparazzi event was organized at The Lalit Hotel, New Delhi amongst the presence of stalwarts of Indian Real Estate who on the day, were not looking less than celebrities.

In every sector or industry, it is the people who play key role in brand building of the organisations. Every individual needs a roof over their head and voting for their satisfaction derived from this roof was something which was still untapped in the realty sector. India International Property Awards (IIPA) brought this idea to the forefront and made sure that everyone votes for the deserving brands. This also meant that the transparency and credibility of the awards would be unquestionable. Also with 7 participating regions, namely Delhi/NCR, Chandigarh, Lucknow, Pune, Mumbai, Bengaluru and Kolkata  and an enthralling number of 68,55,360 votes recorded, 53 winners were selected by the ‘People of India’. IIPA 2015 was held to honour and felicitate the success and achievements of the flag – bearers of Indian Real Estate Sector that included several award categories such as Projects, Debutants, Developers, Professionals, Consultants and few others. This was followed with a thanksgiving to the sponsors, partners and all the associated parties, as the event concluded with a royal dinner and cocktail.

Speaking on the successful launch of the event, Mr. Dushyant Sinha, Founder of IIPA said “Real estate sector has always been seen from the corner of the eyes still searching for its true identity even after being one of a prime contributor towards India’s GDP and employment. IIPA as a platform was designed to fulfil the dreams of the people of India who wanted to choose the best amongst the rest, thereby assisting everyone else to identify true leaders of this sector. Still, this dream could not have been a reality without the tireless efforts and dedication of the entire team behind IIPA. A special word of thanks to the sponsors and partners of the event without whom this night would have gone incomplete. Finally, we would like to congratulate the winners and thank the people who voted and made sure the best won.”

About IIPA:

India International Property Awards (IIPA) is a set of awards in the honour of those organizations and individuals who have done excellent and high quality work in the real estate sector. IIPA would help to recognize all the eminent players who have positively contributed towards the growth of realty sector. Awards would be segregated under various categories such as Projects, Debutants, Developers, Professionals, Consultants, etc.; winners out of these will be decided by the public.

ICCPL PROPERTY NEWS

PROPERTY MARKET AT RELIGIOUS AND TOURIST SPOTS TO GAIN FROM UPCOMING FESTIVE SEASON

    India is a country full of culture & festivals, and the festive season in India is an entirely different air and environment riding high on religious sentiments of the people. Each year we observe people celebrating different festivals throughout the calendar with a lot of zeal and enthusiasm. At the same time, people also look at this as a time when a family vacation to a tourist spot is possible, due to a long list of holidays. As a result, due to the increased commutation at different regions, the property market during these seasons in India observes a sudden rise in demand. The season commencing with Shradhs followed by Navratris, Dushhera extended till Diwali is considered highly auspicious, and as a point of high religious interest. Most holidays in the calendar are marked during this season only and people attach their propitious beliefs thereby provoking themselves to buy property or make a visit to different tourist destinations.

“There comes a mini-boom in the real estate sector of India as we inch closer to festival seasons. Important occasions such as Shradhs, Navratris, Dushhera and Diwali observes heavy footfall of people on several religious and tourist destinations. This footfall consists of potential buyers as well who believe in buying property near to their interested destinations. At the same time, an already bought property on such locations witnesses’ heavy capital appreciation due to high demand of the destination”, explains Mr. Vikas Bhasin, MD, Saya Homes. One such destination that attracts tourists as well as devotees from across the country and globe during festive season is our capital city, New Delhi. This city is home to ancient culture as well as religious monuments such as the India Gate, Red Fort, Jantar Mantar, Old Fort, Humanyun Tomb, Qutab Minar, Akshardham, Iskon Temple, Lotus Temple, Sai Baba Mandir, Jama Masjid, Bangla Sahib Gurudwara, Cathedral Church of Redemption, Birla Mandir and much more. Apart from a few tumbles here and there, Delhi’s property market is one such example that has not seen depreciation or stagnancy ever and festive season each year provides it with an ignition.

The Religious Connect:

Buying property near a religious destination has its set of benefits. Beginning with Shradhs, i.e. Pitrupaksha is a period of 15 days which is considered an auspicious time for honouring our ancestors and expressing thankfulness to the deceased elders. Now days, it is also a way of implanting respect for elders in the minds of young ones. Therefore, this time around we must certainly seek the blessings of our ancestors so that we are able to follow the right path directed by them, and accomplish our goals with least hindrance. During this time, religious destinations like Haridwar, Rishikesh, Varanasi and others are occupied by devotees who come to honour their deceased elders. Post Shradhs, the nine days of Navratris are considered an apt time to buy property and projects located on religious destinations extract the most out of these nine days. “The fifteen days of Shradhs is a preparatory time for potential buyers who because of religious beliefs buy during Navratris or Deepawali. Apart from projects located on different regions, religious and tourist hubs are biggest gainers during these seasons as property buying is increased on these places. Also, as these regions observe similar traffic each year, the demand is not shaken and prices get appreciated very frequently as well”, avers Mr. Sushant Muttreja, CMD, Cosmic Group. Cosmic Group is a realty major of NCR that has its residential and commercial projects well placed on key locations. Speaking off projects at such destinations, Cosmic Group has its own luxurious residential offering ‘City Of Romance’ situated at Rishikesh. Another realty major of NCR, Shri Group has been known for delivering projects at ‘The City Of Lord Krishna’, Mathura. The company has already delivered 9 residential projects in Mathura, Vrandhavan and Brij along with 3 projects ongoing. Riding with such immense experience in delivering projects at religious destinations, Mr. Sudeep Agarwal, MD, Shri Group elucidates “Developing and delivering projects at religious destinations is a charm in itself. Such destinations are of significance to every segment of property buyers. People willing to buy properties due to religious sentiments or for an investment purpose prefer such destinations due to heavy festive season footfalls and rapid price appreciation. At the same time, there is a strong demand of second home buyers for properties at such destinations as those buyers are occasional visitors, but like to visit and stay during festival seasons”.

The Tourism Impact:

Real estate sector and tourism industry goes very much hand-in-hand. A region that offers different culture, tradition, art, music, literature, philosophy, etc. attracts tourists greatly. And if the region doesn’t offer supportive infrastructure then it cannot be transformed into a proper tourist destination; and this transformation is well provided by the real estate sector. “Developers very well need to understand a region before they plan to setup their projects and accordingly come out with a theme and its offerings for the public. The theme so decided and offerings available are made to perfectly complement the destination. For instance, having projects developed with huge green spaces and water bodies complement tourist destinations that are situated in tropical regions. Similarly, a project developed near a cultural heritage site will try to match theme of the structure thereby attracting visitors of the region. Thus, a destination due to its culture and tradition gets the much needed tangible support from the real estate sector”, explains Mr. Kushagr Ansal, Director, Ansal Housing. As a company, Ansal Housing has over three decades of experience in the real estate sector and developed projects spread across various cities in the country. Speaking with respect to delivering projects at hot tourist destinations, the company has delivered two projects at the ‘City of Taj’, Agra. ‘Ansal Town Agra’ and ‘Ansals Emerald Heights’ are located in vicinity of the global wonder ‘Taj Mahal’. The company is also developing and has delivered various projects across numerous tourist destinations such as Ajmer, Indore, Jammu, Kurukshetra, Mumbai and others.

Destinations in proximity to airport, railway station and along the highways are able to pull off a lot of crowd. One such illustration can be destinations falling along the National Highway 8. NH 8 starts from Delhi and goes through the rich cultural states of India like Haryana, Rajasthan and Gujarat. Thus, this entire stretch becomes significant with respect to tourist attraction. Where there is strong tourism, there exists a strong real estate market. “There is a direct relation between tourism and real estate. As tourism in a region grows, so does the property market. A culturally rich region not only attracts domestic footfall but global crowd as well which opens the door for FDI inflow. This footfall is looked upon as a potential set of buyers for the property market, and conversions are fairly observed as well. The peak tourism season in India is between the months from September till March, during then most festivals are also witnessed. This allows the real estate market to become pro-active in terms of offering better deals to the customers thereby increasing the chances of enhancing sales”, states Mr. Harinder Bashista, Director, Vardhman Estate & Developers (P) Ltd. On the way of NH 8, Vardhmans has a project ‘Springdale’ situated at Dharuhera which is a next door neighbour to culturally rich city, Neemrana.

Final benefit to Real Estate:

Thus, after understanding how religious and tourist destinations help in grooming real estate sector, it is expected that the upcoming festive season in the country will provide it with a much needed boost. “This sector has been reeling under pressure of inventories getting piled up across all major cities. These cities are major because they carry industrial, tourism, religious or several other tags. Speaking about the relation of such destinations with the upcoming festive season; stage is all set, developers are sitting ready to offer their best deals and, customers are gearing up and allocating funds for their next big purchase. This sector is now about to see a revival approaching very soon”, concludes Mr. Dujender Bhardwaj, Director, Marina Suites.

ICCPL PROPERTY NEWS

JM HOUSING GOES FOR POSSESSION OF JM AROMA

Noida: In spite of the ongoing slowdown in real estate sector, realty major of NCR known for its on-time delivery and quality products; ‘JM Housing’ is now ready for the possession of its highly acclaimed project ‘JM Aroma’, located at Sector 75, Noida. The project was started on 27th September 2012 and in a span of nearly 3 years today, the project is standing ready to welcome its rightful residents. This is a major achievement in this sector considering the severe pressure of possession delays that are largely visible today. This is the second on-time delivery by the company after it successfully delivered ‘JM Orchid’ located at Sector 76, Noida back in 2013.

JM Aroma is a residential project by JM Housing in the locality of Noida in Sector 75. The project is strategically located and shares its proximity with Ghaziabad, Greater Noida and Delhi. The project is a combination of meticulously designed 3/4 BHK flats that are 598 approx. in number with various modern amenities such club, swimming pool, gymnasium, landscape gardens, children park, water supply, 24X7 security, power backup and much more for the residents to relish. The project is properly linked by roads; public transportation is obtainable at a walking distance. The nearest metro station is just 10 minutes from the project, NH 24 mere 15 minutes and Delhi 20 minutes respectively. Developed sectors like Sector 50, 51, 62 and 63 gives an additional advantage to this project and thus, signalling good capital appreciation.

Feeling jubilant and proud of this achievement, Mr. Rupesh Gupta, Director, JM Housing said “I first take this opportunity to thank and congratulate the entire JM Housing team who had worked tirelessly to make sure that righteous owners of this project get their homes on time. We are feeling extremely proud that we have yet again proved our mettle when it comes to delivering projects with superior quality and on-time as well. JM Aroma is one of our highly sought-after project keeping in mind the daily needs and requirements of the residents. The project is situated at a prime location of Noida with already existing sound infrastructure and plans very well laid, thus promising a bright future for the residents and the project”.

About the company:

Started in the year 1999, JM Housing Limited, an associate concern of JM Group, is a repute name in the real estate sector of Delhi & NCR. They are one of the prominent names engaged in providing real estate solutions for commercial and residential construction service to the clients. Founded on a strong lineage and an established reputation, JM Housing Limited is a leading real estate development company whose philosophy is based on Client Satisfaction, Execution Excellence, and Timely delivery. JM Housing Limited was formed with the sole purpose of providing professional and honest service to its valued customers.

ICCPL PROPERTY NEWS

SECTOR HOPEFUL FOR A RATE CUT IN THE UPCOMING POLICY REVIEW

   After keeping the key rate untouched in its last policy review on 4th August, 2015; all eyes will be on the apex bank to see if it provides the nation with a rate cut in its upcoming policy review. RBI is scheduled to sit for its next RBI review meeting on 29th September, 2015 which will be the sixth bi-monthly policy review for this calendar year and fourth for the current financial year 2015-16. Driving with high uncertainty and instability, real estate sector in particular will be banking high on a rate cut this time in order to fuel the demand that has been going stagnant for quite some time.

Inflation kept under check:

Chances for a rate cut this time are brighter than ever, thanks to inflation striking a record low. “As per the consumer price data for July showing the retail inflation at a record low of 3.78 percent, this will further give RBI more room to ease policy. Repo rate cut by RBI is the need of hour as this sector is already struggling to clear inventory due to rising property prices. A repo rate cut in the upcoming review policy of RBI will allow banks to further reduce their lending rates which in turn will reduce the burden of EMIs on a buyer’s pocket. With the final festive season of the year approaching, a reduction in lending rates will pull demand from the market and allow developers to clear the pile up of inventories”, explains Mr. Harinder Bashista, Director, Vardhman Estates & Developers (P) Ltd. Adding to the view, Mr. Sudeep Agarwal, MD, Shri Group avers “Fuel disinflation is making a comeback again as the prices for the same are falling down. On the other hand, onion which is a staple ingredient in Indian cooking was looking at its price escalating, thus putting a pressure on food inflation. But retail inflation has hit a best ever low which further strengthens the chances of a rate cut this time. So, overall we have inflation under check which will allow RBI to think for a rate cut this time. To boost the sentiments of people prior to the festival season, it will be crucial if RBI makes a rate cut this time which will ignite the frozen demand for property in the sector”. Therefore, if inflation follows a downward trend, RBI will be keen to keep its rate cut cycle going which will allow the banks to reduce its lending rates thereby, offering a direct benefit to public.

Global Impact:

It has been largely observed that Indian monetary system works a lot in sync with the US Federal Reserve policies. The US Fed is likely to raise the Federal funds rate this time signalling stability that the US economy is back on track which again signifies that a repo rate cut by RBI might be on the cards. “Looking at the way global economies have behaved over the last couple of months and the impact of devaluation of Chinese currency has had on several economies, we believe the market has more or less discounted a 25 basis points rate increase by the US Fed. And once this happens, it will be a favourable move for domestic equities as RBI will be then provoked to make a rate cut in the upcoming review. Also, it will be crucial for the market to see a rate cut just before the commencement of festive season so that people can plan and execute their purchases during the festivals”, states Mr. Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group. Also agrees Mr. Sushant Muttreja, who is the CMD of Cosmic Group as he elucidates “It will become harder for RBI to cut interest rates later in this year if the US Federal Reserve delays raising its interest rates, which it is expected to raise considering the positive financial health of households and banks, seven years after the great financial crisis of 2008. You will actually witness that the Indian stocks will actually rally on the Fed rate hike otherwise global markets will rally but India might trail them. Finally, the joyous mood of the customers in this sector will be observed if a rate cut is seen later this month as property will set to cost less to the potential customers due to reduced EMIs”. US Fed is looking eager to raise its Federal Funds rate which is regarded as the key rate for US’s economy. Thus, a rate hike there might be good news for Indian economy as domestic equities will gain the most out of it and will entice RBI to reduce its key rate.

Festive season bells finally ringing:

The next RBI bi-monthly review is due on 29th September, 2015 and after that on 2nd December, 2015. The months of October and November are considered most crucial and auspicious for the key industries and sectors of our economy such as real estate, automobiles, etc. It has also been observed that most people actually wait for this festive season to approach the country to make their big purchase. Thus, a rate cut in the upcoming RBI review will open the gates for a huge pool of demand and positive sentiments that might even give a new shape to the realty sector of our country. “Looking at the current facts and figures, ground is ready and the stage is set for a rate cut in the upcoming RBI review. This RBI review is considered as the most crucial review of the entire year considering the festival season which is now standing just around the corner. Most buyers allocate their funds and plan their property decisions just before the Navratris; and during festivals they make a purchase keeping in mind the propitious sentiments attached to it. Thus, if RBI makes a rate cut this time; it will be great news for the market and an all win situation for the customers as well as the sector”, states Mr. Mukesh Khurana, MD, Rudra Buildwell Pvt. Ltd. Beginning from Navratris and till end of Diwali, real estate sector is the highest gainer from this festival season as each year we see a huge footfall and conversion of potential buyers. Thus, it becomes even more important that RBI goes ahead with a rate cut this time so that sentiments become positive, and the ripple effect of which is extended till the year end. “After three repo rate cuts and strong nods from RBI this calendar year, the banks have somewhere fulfilled their promise of bringing down the lending rates. Although, still the lending rates are pretty high in India looking at the unsold inventory levels and soaring prices of properties. We are quite hopeful for a rate cut this time as the economy is reviving and coming back on track. A further reduced EMI for buyers will attract higher demand for property, and with final festive season of the year right on edge, entire demand of the next 3-4 months are relying heavily on this RBI review”, concludes Mr. Rupesh Gupta, Director, JM Housing.