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We anticipate, in the medium terms, cities with lower inventory overhang (such as Bangalore and Mumbai) will witness strengthening in the rental and capital values. This is primarily because of the overall strengthening in business confidence based on the government’s keen resolve to introduce numerous fiscal and economic reforms. RBI has indicated that they would positively review lowering the repo rate in 1Q 2013. This should increase liquidity in the market; and the positive business environment should lead to recovery in the country’s economic growth and increase in demand for commercial and residential real estate.
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