Hold realty stocks, but don't buy now: PN Vijay

PN Vijay, portfolio manager of askpnvijay.com told CNBC-TV18, "There was expectation that there would be a revival in realty across the country. Unfortunately even with interest rates softening, it has not happened. Also , there were reports that real estate consultants talking about oversupply and lack of investment buying in real estate across territories."

He further added, "The worst affected are Delhi NCR, Mumbai and Bangalore. As a micro market has the potential to perform slightly better because there the share of genuine demand to investment demand is much higher for genuine demand but still shares are crashing. So, one needs to be extremely cautious and wait till the Reserve Bank of India (RBI) speaks out its mind in June about the rate cut. One needs to see the occupancy levels. Right now if one has position in real estate one can hold on to them, but I would surely not advocate adding fresh positions in this fall."