"With the stock market witnessing a lot of fluctuation in these times of uncertainty, we anticipate that a lot of people will consider investing in property, as that is a more stable, long-term asset," he said.
Realty developers have been battling lower sales and tight liquidity for some years. The liquidity crunch since September 2018 at non-bank finnancial compnaies has severely hit their refinancing arrangements.
Ashish R Puravankara, managing director at Bengaluru-based Puravankara, said: “With no registrations and no visibility now on new launches, this (rate cut) will help with cash flow management and better allocation of resources once the lockdown is over."
Home sales and launches are down by 42 per cent each in the first quarter of the current calender year, due to the lockdown, according to a recent report from Anarock Property Consultants.