India, Feb. 13 -- Niranjan Hiranandani, chairman of NAREDCO, the apex body for real estate developers, has said that the RBI interest rate cut would significantly benefit affordable housing and hopes that a 100 basis point reduction in the repo rate going forward will further boost the segment.

Hiranandani made these remarks during a panel discussion hosted by NAREDCO Next Gen on February 11.

"The most important thing which has happened, and I must signify that, is that the Reserve Bank of India (RBI) has finally recognised that we have inflation under control and food prices are not, they are supply-driven, and they are not going to be contained by interest rates. And the reduction of interest rates will bring affordable housing back,"...