Seventh Pay Commission Likely To Improve Home Sales

Kolkata is witnessing a rise in demand for real estate properties. However, the demand is not getting reflected on the sales properly. Buyers are still hoping that the prices of properties will fall further and they are holding their patience. However, real estate companies are trying their best to stay in business. For that, they have taken some steps.

Steps Taken by Real Estate Companies:

Despite of sluggish growth, competition among builders has grown by leaps and bounds. This has led to formulation and execution of various marketing and customer management strategies.

Some real estate builders organize lucky draw contests for customers coming on first cum first serve. The prizes offered are of various kinds. It may happen that the winner has received a home renovation package from the developer. In some cases, the winner is gifted with an international tour package.

Some home developers follow other innovative route to attract customers. Nowadays, budget has become the limiting factor for any bulky purchase. That is why customers prefer to buy homes with home loans. Some real estate builders in Rajarhat help customers to find home loans that come at reduced interest rates. This ways they build intimate relationship with home buyers.                        

Competition among real estate developers will go on. Soon home developers will get some respite.

How Real Estate Companies Will Get Some Respite?

When you have enough finance with you, then you spend readily. You do not enter into bargain. After some time, real estate companies will not have to undergo situations where customers demand for high discounts.

As per the recommendations of Seventh Pay Commission, government employees will witness a boost in their salaries and perks. This means that the purchasing power will increase. This in turn will boost home sales.

Home Sales Will Rise Due to Development in Retail Sector:

Government employees can purchase homes as per their requirements. They will have more purchasing power. Therefore, many of them will like to go for shopping in malls and cosy retail outlets. For that reason, a few industry experts have suggested that movie theaters and shopping malls be open round the clock. The government will soon approve the Model Shops and Establishment Bill.

Once the retail outlets become functional round the clock, they will generate more employment. People who will be working for these outlets will also enjoy the benefits of purchasing power. This will help real estate companies to design homes as per the affordability of employees of retail sector.

Already, a realestate company in Kolkata namely Realtech Nirman has conducted a research and it has started constructing homes based on different budgets. These properties are located at various locations of Kolkata.

The boom in retail sector will also leave positive effects on warehousing and logistics sectors. Therefore, the real estate sector will witness increased footfalls which show that the chances of sales conversions will go high.

The recommendations of Seventh Pay Commission will have profound impact on real estate in positive direction. With increased finance in hand, people can readily look for various property options and make sound purchase decisions.