During its meeting which concluded on September 3, the Goods and Services Tax (GST) Council reduced the GST rate on apparel priced up to Rs 2,500 to 5%.
The Nifty Metal index declined over 0.7 percent to stand at 9,424, while the Nifty Realty index fell more than 0.5 percent to hover around 912, as seen at 10.20 am.
Godrej Properties announced on June 16 that it will develop a premium residential project on a land parcel spanning across approximately 14 acres in Hoskote, East Bengaluru.
Hopes of a rate cut after Reserve Bank of India's MPC meeting in June may be one of the possible triggers for the uptrend in the sector.
The company announced that 'Godrej Astra' is strategically located in Gurugram's Golf Course Road micro-market and is spread across nearly 2.76 acres of land.
Markets maintain premium valuations, with Nifty trading at 20.3x one-year forward earnings, supported by robust growth, stable macroeconomic conditions, and political stability.
Budget 2024 is expected to significantly enhance the real estate sector with industry status, tax reliefs, and reforms to boost affordable housing and project funding.
The realty sector has thrived in 2024, with strong demand driving cash flows and boosting property developers' balance sheets. Industry players eye the upcoming Budget for further incentives and growth opportunities.
Realty stocks had been soaring high in past few months on the back of strong demand, hopes of interest rate cuts
Sobha, Brigade Enterprises, Oberoi Realty, Godrej Properties and DLF stocks fall up to 1 percent.
The current situation is generally advantageous for developers because consumer enthusiasm is strong and input prices are on the rise, providing a sense of higher value in sales.
Motilal Oswal Analysts expect Sunteck Realty to deliver 25 percent CAGR over FY23-26, fueled by ramp-up in launches from new and existing projects
In the September quarter, Sobha recorded its highest quarterly sales at Rs 1,724 crore, up 26.1 percent from the previous year, while Macrotech reported best-ever quarterly pre-sales of Rs 3,530 crore
Investors expect the realty index to outperform other major indices in the second half of FY24 on the hopes of rate cuts ahead
Jefferies' latest GREED & fear report, shows that the residential property market in India is witnessing an upturn. Considering the preceding seven-year downturn and the resulting pent-up demand, Jefferies suggests that this property cycle uptrend could potentially continue for another three to four years. So is this the right time to invest in real estate stocks? Which realty stocks have become hot property? Watch this video to find out.
Experts believe the low interest-rate regime, rock bottom home loan rates, stable residential prices, and continuing work-from-home trend are the key triggers driving residential affordability
In Maharashtra, stamp duty charges are 5 percent in key cities like Mumbai, Pune, Nagpur and Nashik and 6 percent in others.
Shares of leading realty companies like Godrej Properties, DLF, Indiabulls Real Estate, Sobha, Oberoi, HDIL and Unitech were down 12-15 percent.
In an interview to CNBC-TV18, Sanjiv Bhasin of IIFL shared his reading and outlook on the market.
Real estate has been one of the top performing sectors today after the cabinet approved the real estate development and regulation bill which paved the way for setting up a regulator for the sector. DB Realty, Brigade, Indiabulls Real, HDIL, Parsvnath, Sobha and Puravankara gained 2-6 percent.
Sudarshan Sukhani of s2analytics.com is of the view that one may stay away from real estate stocks.
HPCL too the short-term trend is up and so one can look at buying it on dips, he adds. Larsen and Toubro is a positional trade buy, so one can look for small rallies to sell it.
SP Tulsian of sptulsian.com is positive on PSU banks and real estate stocks. He advises to go long on State Bank of India, Bank of India, Dena Bank, DLF and Indiabulls Real Estate.
SP Tulsian of sptulsian.com is of the view that one can enter real estate stocks on correction.
Sudarshan Sukhani of s2analytics.com is of the view that one can see a big decline in real estate stocks today.