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Thursday, 30 June 2016

7th pay commission could work well for real estate

Pawan Jasuja, Director- Finlace Consulting
The impact of the 7th Pay Commission recommendations symbolizes the growing economy and I believe housing sector will be the biggest beneficiaries among all. Sudden rise in income and expenditure capacity of government employees may move towards real estate investment. The recommendations are likely to be involved in stimulating the demand of realty sector not only in metro but also in tier 2 & 3 cities too where property buyers are more demanding.

Suresh Garg, CMD,Nirala World & Secretary- CREDAI Western UP 
The move is expected to give an enormous boost to the real estate sector  as consumption demand in urban areas is likely rise owing to the rising income levels. It will enhance the loan eligibility and repaying capacity the individuals making them to invest or buy homes and also exploring the fact of considering bigger size units.

Vineet Relia, Managing Director, SARE Homes
In the wake of current economic indicators poised towards fiscal rectitude, the finance ministry today announced the seventh pay commission. The revised slabs would help to  flush in more liquidity in the market by broadening the channel of purchasing capacity of nearly one crore employees in India. The raise in hike would definitely have a ripple effect on private sector too. We as developers hail the government’s decision and the intent of the pay commission that would also help us to synergize with the growth of real estate and economic prosperity of the nation, coupled with boosting the investors sentiment to  new heights.
Anshuman Magazine, Chairman & MD, CBRE South Asia Pvt. Ltd.

“The Seventh Pay Commission announced by the Government today will not only benefit the estimated 10 million Central Government employees; but is also likely to provide an impetus to the residential and retail real estate markets in the country. With larger disposable income, we expect to see an increase uptick in consumption patterns. The increased cash flow could also help bring back interest in investing in the residential real estate market, especially in the affordable to mid-end housing segments.”