Real estate stocks shine on RERA impact
DSIJ Intelligence / 02 May 2017
Real estate stocks gain on Tuesday early trade after Real Estate Regulation Act (RERA) came into force on May 1. The S&P BSE Realty Index is trading at 1956.25 with 1.68 per cent up at 1100 hours with majority of the index components opening higher than their last close.
Real estate stocks gain on Tuesday early trade after Real Estate Regulation Act (RERA) came into force on May 1. The S&P BSE Realty Index is trading at 1956.25 with 1.68 per cent up at 1100 hours with majority of the index components opening higher than their last close.
Share price of Sobha was up 7.22 per cent at Rs 398.5, India Bulls Real Estate was trading 2.6 per cent up at Rs 153.65, Godrej Properties was up 3.89 per cent at Rs 482.05, Prestige Estates Projects up 1.85 per cent at Rs 240, DLF up 1.48 per cent at Rs 188.75.
RERA has provisions that protect home buyers’ rights. The Parliament had passed The Real Estate (Regulation and Development) Bill, 2016 in March last year and all the 92 sections of the Act comes into effect on from Monday. The RERA Act is expected to revive the realty sector by making it more transparent and accountable.
On April 6, the Reserve Bank of India during its last policy meet allowed banks to invest in real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). The steps like RERA, Goods and Services Tax (GST) and REITs are expected to boost the overall sentiment of the sector.
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