Mr Satish Magar, President, CREDAI National, basis the RBI's decision to reduce repo rate

"The cut in repo rate by RBI to 5.15 percent is along expected lines. It will lower the interest burden on home buyers inducing higher demand. On the other hand, the downward revision of GDP growth to 6.1 percent from 6.9 percent earlier is an ominous sign. Improved tax incentives for home buying offer a quick fix which Government may like to consider immediately"