Lower mortgage rates, better sales rekindle interest in realty stocks
While shares of Indiabulls Real Estate jumped nearly 40% during Monday's session led by the company's announcement of carving out a commercial real estate business
Shares of listed real estate companies have been blazing away on the back of lower mortgage rates, better sales momentum and the impending implementation of the Real Estate Regulatory Act that's expected to boost the performance of organised players.
While shares of Indiabulls Real Estate jumped nearly 40% during Monday's session led by the company's announcement of carving out a commercial real estate business, shares of HDIL, DLF , Godrej Properties, Unitech and Omaxe too moved up 6-8% helping the BSE Realty Index climb nearly 9%. Given the renewed interest in real estate shares, the BSE Realty Index has gained nearly 21% over the past four weeks, especially at a time when the Sensex has declined 0.8%.
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