The pay panel proposes a hefty salary and pension hike for Central government employees and pensioners. The recommended 16% rise in basic salary and the 138.7% increase in house rent allowance (HRA) could spur demand for housing. Also the subsidized housing loan limit has been hiked, while the period of continuous service to avail of it has been reduced.
Hence those employees who will see an increase in monthly salary are likely to play a key role in pushing up the demand in the housing sector.
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