No action on the rate front could lead to major trouble in the economy, these companies have argued.
"There was this expectation that some policy action would come in the light of slower growth. There were expectations that both the repo rate and cash reserve ratio would be cut.
"It was disappointing to that extent," said Ashok Tyagi, group chief financial officer, DLF.
Although Tyagi said DLF, the country's largest developer, had seen good offtake in recent months, overall the situation looks grim.
According to PropEquity, a realty research firm, the Mumbai Metropolitan Region and the National Capital Region saw one of the sharpest falls in absorption of homes in the first quarter of 2012. MR saw a drop of 58 per cent and NCR one of 57 per cent.
Said Pradeep Jain, chairman of Parsvnath Developers: "We are highly disappointed. At this stage, RBI should have
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