Visakhapatnam: Industry sector welcomes RBI’s decision as lower interest rates will ease homebuyers’ burden and revive housing demand. The Confederation of Real Estate Developers’ Associations of India (CREDAI), Andhra Pradesh chapter lauded the Reserve Bank of India’s recent decision to reduce the repo rate, terming it a prudent and well-timed intervention that is expected not only to ease home loan interest rates but also revive momentum in the housing market.

CREDAI AP president B Srinivas Rao, chairman Buddiga Srinivas, and general secretary D.

Rambabu expressed strong support to the central bank’s move, stating that it would bring much-needed relief to home buyers and encourage investment across housing segments. “The rate cut comes as a timely relief for the real estate sector, which plays a pivotal role in employment generation and economic activity,” said the CREDAI AP president. Highlighting the affordability factor, chairman Buddiga Srinivas said lower interest rates would significantly enhance buyer confidence. “This move will motivate first-time buyers and those hesitating due to high EMIs to take the next step,” he noted.