 "Real estate shares gain as government eases FDI norms")
Shares of real estate companies gained ground during Mahurat trade on Wednesday, after the government on Tuesday relaxed foreign direct investment (FDI) norms in construction sector by removing two major conditions related to minimum built up area as well as capital requirement.
The real estate sector is likely to get some relief from the easing of FDI conditions including limitations on capital, minimum area and lock-in period in construction development, experts suggest.
According to analysts, relaxation in FDI conditions is expected to benefit most big developers including DLF, Unitech, Sobha, and others. CLICK HERE TO READ FULL REPORT.
At 17:46 PM, Indiabulls Real Estate was up 4% at Rs 60.85 on the BSE. Godrej Properties, Sobha, DLF, Unitech, Housing Infrastructure and Development (HDIL) and Oberoi Realty were up 2%-3%.
S&P BSE Realty index, the largest gainer among sectoral indices, up 2% as compared to 0.23% rise in the benchmark S&P BSE Sensex.
The real estate sector is likely to get some relief from the easing of FDI conditions including limitations on capital, minimum area and lock-in period in construction development, experts suggest.
According to analysts, relaxation in FDI conditions is expected to benefit most big developers including DLF, Unitech, Sobha, and others. CLICK HERE TO READ FULL REPORT.
At 17:46 PM, Indiabulls Real Estate was up 4% at Rs 60.85 on the BSE. Godrej Properties, Sobha, DLF, Unitech, Housing Infrastructure and Development (HDIL) and Oberoi Realty were up 2%-3%.
S&P BSE Realty index, the largest gainer among sectoral indices, up 2% as compared to 0.23% rise in the benchmark S&P BSE Sensex.