Shares of real estate companies are in focus and are trading higher by up to 13% on the Bombay Stock Exchange (BSE) in otherwise subdued market.
Godrej Properties, Indiabulls Real Estate, Housing Development and Infrastructure (HDIL), DB Realty and Sobha Developers are trading higher by 2-13%, while DLF, Anant Raj, Unitech and Prestige Estates are up 1% each.
The BSE S&P BSE Realty index, the largest gainer among the sectoral indices, is up nearly 2% compared to 0.03% rise in benchmark S&P BSE Sensex at 1010 hours.
According to media reports, the Maharashtra government has increased ready reckoner rates for residential and commercial properties from today.
Ready reckoner is an annual statement of rates on which the registration department collects the stamp duty from buyers. Based on the revised ready reckoner rates, the buyers would also have to pay higher value added tax, service tax and 50% increased stamp duty.
Of the total 737 zones in Greater Mumbai, ready reckoner rates have been raised 10 to 20% in 711 zones and over 20% in the rest, the Business Standard report suggests.
Among the individual stocks, Godrej Properties is the largest gainer. It soared nearly 13% to Rs 187 on the BSE. Indiabulls Real Estate has surged 4.4% at Rs 72, followed by HDIL (2.5% at Rs 54.90) and Sobha Developers (2% at Rs 318).
Godrej Properties, Indiabulls Real Estate, Housing Development and Infrastructure (HDIL), DB Realty and Sobha Developers are trading higher by 2-13%, while DLF, Anant Raj, Unitech and Prestige Estates are up 1% each.
The BSE S&P BSE Realty index, the largest gainer among the sectoral indices, is up nearly 2% compared to 0.03% rise in benchmark S&P BSE Sensex at 1010 hours.
According to media reports, the Maharashtra government has increased ready reckoner rates for residential and commercial properties from today.
Ready reckoner is an annual statement of rates on which the registration department collects the stamp duty from buyers. Based on the revised ready reckoner rates, the buyers would also have to pay higher value added tax, service tax and 50% increased stamp duty.
Of the total 737 zones in Greater Mumbai, ready reckoner rates have been raised 10 to 20% in 711 zones and over 20% in the rest, the Business Standard report suggests.
Among the individual stocks, Godrej Properties is the largest gainer. It soared nearly 13% to Rs 187 on the BSE. Indiabulls Real Estate has surged 4.4% at Rs 72, followed by HDIL (2.5% at Rs 54.90) and Sobha Developers (2% at Rs 318).
