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Realty sector now gears to sack employees

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Sources claimed to www.propertykhazana.com says that, in India realty segment is in intricate times and if this drift carries on further for about 7-8 months then 20% of the skilled architects might lose their jobs. The impact might be more severe as about 90% of skilled architects will count on the realty ventures as per to the Indian Institute of Architecture (IIA) estimations. These architects together occupy over 6-7 Lakhs professionals.
Newly elected National President of IIA said to www.propertykhazana.com that, “Even if there is frisky in lack of confidence within the community, there have been no cases of hefty job cuts till now. But, lot of ventures have been stopped which is an upsetting indication for our union. It is only a business feature and the percent of fees charged are different by assorted architects. But, still the downturn can assist Indian architects as big developers are not eager on paying foreign architects hereafter.”
Micro architect firms are the most suffered one during the hard times as they got less ventures and there is postponement in receiving payments from developers. Chairman of IIA Maharashtra chapter said to www.propertykhazana.com that, “When ventures abruptly got delayed or new ones are not opened, micro conglomerates found it hard to make money and pay salaries to its employees. So, many micro firms employs skilled and prevent employee status to reduce the amenability of the firm.” For more and latest realty information browse www.propertykhazana.com.
Source: NBTVLIVE

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