Ten realty shares rose by 0.33% to 4.35% at 12:11 IST on BSE as the path-breaking Land Acquisition Bill was passed by the Lok Sabha with overwhelming majority on Thursday, 29 August 2013.
DLF (up 1.37%), Indiabulls Real Estate (up 2.25%), HDIL (up 1.49%), Unitech (up 4.35%), Godrej Properties (up 0.58%), Anant Raj (up 5.54%), Prestige Estates (up 0.91%), Sobha Developers (up 1.7%), Oberoi Realty (up 0.33%) and D B Realty (up 1%) edged higher.
The S&P BSE Realty index was up 1.74% at 1,194.90. It outperformed the S&P BSE Sensex, which was up 1.1% at 18,603.51.
The S&P BSE Realty index had underperformed the market over the past one month till 29 August 2013, sliding 16.01% compared with the Sensex's 6.08% fall. The index had also underperformed the market in past one quarter, declining 34.26% as against Sensex's 8.67% fall.
Realty stocks edged higher today, 30 August 2013 as the path-breaking Land Acquisition Bill, which seeks to provide just and fair compensation to farmers while ensuring that no land can be acquired forcibly, was passed by the Lok Sabha with overwhelming majority on Thursday, 29 August 2013.
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 stipulates mandatory consent of at least 70% for acquiring land for Public Private Partnership (PPP) projects and 80% for acquiring land for private companies. The bill, which will replace over a century-old law, proposes compensation that is up to four times the market value in rural areas and two times the market value in urban areas. The bill was passed with 216 votes in favour and 19 against.
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