By
Ritesh Kumar Singh
Corporate Economist, OPED Columnist & Keynote Speaker
In a recent media interaction, Finance Minister Arun Jaitley urged RBI to reduce interest rate, as lower interest rate will fuel growth in India's realty sector which is suffering from severe #DemandSlowdown#. He's not wrong. There are 750,000 unsold apartments in 7 cities alone including those in Mumbai, NCR/Delhi and Bangalore. RBI Governor Dr. Raghuram Rajan obliged FM by a 50 basis point rate cut. Will that be enough to revive housing demand? Will it save the realty sector from #crashing#? Why India's housing sector is looking at imminent crash?
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