Central Government recently gave its approval to the recommendations of the seventh pay commission giving an overall 23.55 per cent hike in their salaries. The employees, 10 million in total including 50 lakh pensioners are likely to get August salaries according to the revised rate. Specialists are of the perspective that with more extra income, many of them will invest in the real estate sector. Developers are also upbeat expecting that the Central Government employees will invest in properties and keeping this in perspective many developers have launched group housing projects exclusively for the Central Government staff.
Mr. Pawan Jasuja, Director, Finlace Consulting Says, "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 cities but also in tier II and III cities to where property buyers are more demanding.”