Ashok Kumar – CMD JD Group Limited
In an early and pleasant surprise move RBI has announced a reduction in repo rate by 25 basis points and CRR has also been reduced in the same proportion to reach 4%. We were pretty hopeful of the move during RBI’s February review as there has been demand from across all the sectors, corners and corridors for it. While cutting of repo rate will be good news for new borrowers if banks go ahead and cut their base rates, old borrowers under floating rates can also expect a revision in the interest rates. The CRR cut is also likely to have a long term impact on the interest rates on deposits.
The cut in repo rates is good news as it is likely to lower the cost of borrowing and the reduction in CRR rate might improve the availability of funds bringing in more liquidity to the system. With the announcement of RBI policy, banks would now surely consider lowering interest rates passing on the benefits to the end users. This will further bring down home and auto loans once the banks implements the RBI policy, fixed deposit rates are also likely to go down.
This initiative will help in reducing inflationary expectations and reviving investment for overall growth. Real estate sector will be one of the major gainer with the repo rate cut as this will affect favorably on home loans EMIs and also that the sector still offers great investment options for investors as well as individual buyers.
Any reduction in home loan and budget incentives always show positive impact on the buyer sentiments. RBI’s move will surely set a favorable mood and will also raise hopes for upcoming Union Budget. We are going through an encouraging phase of positive changes and this will further boost it.
About JD Group:
JD Group today is a landmark company building relationships, providing excellent services and creating precious assets for its customers. JD Group’s business philosophy is deeply rooted on the concept of “where trust matters”. At JD, “Trust” is not just another word it’s a habit….. The Group understands trust as confidence of clients, employees, shareholders, associates and society. JD’s innovative and value-driven approach has added new dimensions to the real estate market. It has blended quality and comfort to create an ideal package for the client at the best possible prices thus realizing our ultimate aim of providing value for money.
Today’s JD Group was established under the leadership of Mr. Ashok Kumar, (Chairman & Managing Director) in 2002 with his first stint as an entrepreneur with A.K. Traders. JD Group is a 21st century visionary real estate developer, envisions creating quality housing and commercial projects offering state-of-the-art futuristic & innovative designs. With an aim to achieve complete satisfaction of each & every stakeholder, Group is focused to develop state-of-the-art real estate landmarks. The projects commissioned by JD Group are a symbol of precision, international quality and a perfect amalgamation of quality and aesthetics. The company continues to develop best of commercial spaces & residential apartments. Having experience of over a decade in nurturing trust, JD Group is heading towards redefining the way real estate is perceived.