7th Pay Commission: Home sales likely to improve, say realtors
PTI | Jun 29, 2016, 09.04 PM IST JLL India Chairman and Country Head Anuj Puri said the retail sector accounts for about 15 per cent of the country's GDP and this is expected to increase further with round-the- clock operations. NEW DELHI: Real estate industry bodies today said housing sales are expected to improve following implementation of 7th Pay Commissionrecommendations as prices have fallen in last few years because of slowdown in the propertymarket. Realtors' two apex associations -- CREDAI andNAREDCO -- said the sector would also benefit from approval to a model law that allows shops, malls and cinema halls, among other establishments, to run 24x7 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