IndianMascot
Core Member
Reserve Bank Governor Raghuram Rajan on Thursday exhorted realty developers stuck with high inventories to cut their rates even as the country's largest lender SBI sought RBI's nod for cutting home loan rates.
"I do believe that if real estate developers who are sitting on unsold stocks bring down prices, that will be a very great help to the sector because once there is a sense that prices have stabilised, more people will be willing to buy," Rajan said at the second SBI economics and banking conference here.
The National Capital Region (NCR) market alone had 1.9 lakh unsold homes as of June, it said.
"I do believe that if real estate developers who are sitting on unsold stocks bring down prices, that will be a very great help to the sector because once there is a sense that prices have stabilised, more people will be willing to buy," Rajan said at the second SBI economics and banking conference here.
The National Capital Region (NCR) market alone had 1.9 lakh unsold homes as of June, it said.