Home sales likely to improve, say realtors
Real estate industry bodies on Wednesday said housing sales are expected to improve following implementation of 7th Pay Commission recommendations as prices have fallen in last few years because of slowdown in the property market.
Realtors’ two apex associations -CREDAI and NAREDCO said the sector would also benefit from approval to a model law that allows shops, malls and cinema halls, among other establishments, to run 24×7 throughout the year.
“It’s a very good decision. Hopefully it will lead to wise investment by the government staff for buying homes,” NAREDCO Chairman Rajeev Talwar said, commenting on approval for 7th Pay Commission recommendations.
CREDAI President Getamber Anand said: “Real estate prices are at a low while gold prices are high and stock market is also up. So we expect that investment will come into the realty sector and transactions will increase”.