Realty stocks look up after FM announces relief for developers, home buyers
The Nifty Realty index was up 0.8 per cent.
By ETMarkets.com |
MUMBAI: Real estate stocks rallied after Finance Minister Nirmala Sitharaman announced tax relief for developers and home buyers as a part of the government’s Stimulus 3.0 package.
Under the package, income tax relief will be provided to 20 per cent of the differential between circle rate and agreement, compared to 10 per cent earlier. This would be applicable on primary sale of residential units of value up to Rs 2 crore.
The Nifty Realty index was up 0.8 per cent, while Omaxe and Oberoi Realty climbed 1.26 per cent and 1.12 per cent, respectively. Brigade Enterprises and Godrej Properties climbed 0.62 per cent and 0.51 per cent, respectively.
Indiabulls Real Estate was upbeat since early trade, and was up 17.72 per cent at Rs 56.80.
The Nifty Realty index is one of the worst sectoral performers year-to-date, and is down more than 20 per cent since the beginning of this year.
Under the package, income tax relief will be provided to 20 per cent of the differential between circle rate and agreement, compared to 10 per cent earlier. This would be applicable on primary sale of residential units of value up to Rs 2 crore.
The Nifty Realty index was up 0.8 per cent, while Omaxe and Oberoi Realty climbed 1.26 per cent and 1.12 per cent, respectively. Brigade Enterprises and Godrej Properties climbed 0.62 per cent and 0.51 per cent, respectively.
Indiabulls Real Estate was upbeat since early trade, and was up 17.72 per cent at Rs 56.80.
The Nifty Realty index is one of the worst sectoral performers year-to-date, and is down more than 20 per cent since the beginning of this year.
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