After the Reserve Bank of India reduced its key benchmark rate and cut the cash-reserve ratio requirement, property developers are expecting an increase in sales of homes. They are optimistic about attracting more overseas investment in projects as demand revives. Mr. Rohtas Goel, chairman and managing director of Delhi-based Omaxe, said, “We are confident that banks will reduce interest rates for the housing sector, which will help bring back the end-user to the market. This move will further boost the confidence of investors.” Realty experts are still doubtful of banks passing on the entire benefit of the reduced rates to their customers. “The RBI has cut rates in the past but we have not seen much from financial institutions. Only when home loan rates come down to 8-8.5 per cent, can we see some difference,” said Mr. Anuj Puri, chairman, Jones Lang LaSalle Meghraj.

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