7th Pay Commission approved by Cabinet; Real estate sector may get a boost, Bhiwadi, Gurgaon among best bets

 

Bhiwadi - 29th June 2016

7th Pay Commission

Realty experts feel that the 7th Pay Commission will have a positive impact on the sector and provide opportunity to middle class government employees to own a house with the increased disposable income.

Wednesday proved to be an important day for central government employees as the Union Cabinet cleared the implementations of 7th Pay Commission recommendations, which is expected to benefit to over 1 crore government employees and pensioners. Realty experts feel that the 7th Pay Commission will have a positive impact on the sector and provide opportunity to middle class government employees to own a house with the increased disposable income. Hike in salary indicates an increased spending power and better economic growth. The government has approved rise in salaries and pension for public sector employees.

The real estate sector is already reeling under pressure and revival looks tedious and a long drawn process. Developers are already offering discounts to get buyers back into the market. 7th Pay Commission’s is seen as a step that would boost the demand and home ownership sentiment.

Listed here Bhiwadi, Jaipur, Ghaziabad, Delhi (L-zone) and Faridabad as good real estate investment picks in North India along with Gurgaon, Noida, Jaipur, Neemrana and Lucknow. Thane and Navi Mumbai that gave investors maximum returns in the past four years will continue to give best returns to its investors.

 

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