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RBI rate cut – good beginning, but more expected, says Rajesh Prajapati

Mumbai, January 16, 2015: The real estate industry welcomes the announcement of Dr. Raghuram Rajan, RBI Governor on a cut of 25 basis points in its repo rate as a good beginning said, Mr. Rajesh Prajapati, MD, Prajapati Constructions.

”It is a first step among the many expected, and a long awaited one, which will propel the growth of the real estate industry,” he said.

“We are happy to now see a possibility of single digit home loan rate after many years which will act as a catalyst, attracting and making possible more and more home buyers to buy their dream home,” he said.

He expected the rate to further come down by 200 bps which should see home loan rates stabilize at around 8%.

“We are happy to see these positive steps initiated by the government. The real estate industry has long been neglected and it is time now that we are granted industry status, it is the second largest employment generator in the country, only after agriculture”, added Mr. Prajapati.

About Prajapati Constructions Ltd: 

Prajapati Constructions Ltd the flagship company of Prajapati Group is a reputed IS 9001 – 2008 certified company incorporated in 1995.  Prajapati Group specializing in premium affordable housing projects has presence across Navi Mumbai and Hyderabad.

The Group has completed over 20 projects in Navi Mumbai and Hyderabad, encompassing over 1 million sq.ft of space and 1500 units of residential and commercial space delivered.

Today brand “PRAJAPATI” stands for quality, aesthetics and tasteful designs, adhering to timely deliveries giving value for money to customers. By adopting fair & transparent business practices and self imposed ethical code of conduct, Prajapati Group has succeeded in creating a brand which is associated with Trust. Hence our motto — TRUST US WE DELIVER. While Prajapati Constructions’ main focus is on residential and commercial projects, it is also spread across diverse verticals ranging from constructions and allied businesses to Information Technology.

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