By Shishir Baijal, Chairman and Managing Director, Knight Frank India

“The Reserve Bank of India and the government have, this year, taken bold steps to stimulate consumer spending through measures such as REPO rate cuts, tax revisions and GST rationalisation to increase domestic consumption. However, with the recent volatility in the economy, the housing demand is beginning to show signs of clear moderation from the momentum witnessed over the past five years. To ensure that this momentum is maintained, and buyers are further encouraged, a timely rate cut could provide the much-needed impetus to housing market and maintain the upward cycle in real estate.”