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Omaxe lay off salary slabs for top orders

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Realty slowdown has made a gloomy impact on the entire major and minor realty houses. According to the sources of www.propertykhazanan.com, realty major Omaxe of Delhi has recently moved out around 70 employees and for the others there has been a slash of 10 percent deduction in salaries. But this deduction is away from the individuals in the range of Rs. 10,000 and below.
This is all due to the reason of realty break down of the company which is recorded for Rs. 20 crore as compared to that of Rs. 160 crore for the last year. Source of www.propertykhazana.com also reveals that the total earning of the realty for the current period has been observed at Rs. 213 crore which is much lower than that of Rs. 710 as noted for the last financial year.
The same trend was followed by the other giants of the realty like Parsvnath who also made deduction of 21 percent for all the top and middle level salary accounts. The realty slash in collaboration with the economic crisis has further led to the higher rate of interest by the banks mainly for the loan segments. As part of the protective measure for further worst situation the CREDAI and NAREDCO along with the finance ministry has requested the realty members to lay off their rates for better sale rates to cover up the looming economy soon. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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