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Realty stocks gain as Govt mulls bringing real estate sector under GST

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of seven real estate companies rose 0.18% to 2.89% at 13:44 on after Minister was quoted as stating that there is a strong case to bring real estate sector under the ambit of the Goods and Services

Meanwhile, the S&P Sensex was up 91.06 points or 0.29% at 31,925.05. The S&P Realty index advanced 16.84 points or 0.81% at 2,106.21, outperforming the Sensex.

Oberoi Realty (up 2.89% at Rs 415), (up 1.95% at Rs 219.65), Sobha (up 1.18% at Rs 426.20), Housing Development and Infrastructure (up 0.9% at Rs 55.75), Godrej Properties (up 0.49% at Rs 635.95%), Unitech (up 0.32% at Rs 6.33%) and DLF (up 0.18%) advanced. D B Realty (down 5.23%) and Prestige Estates Projects (down 1.73%) declined.

Minister was quoted as stating that there was a strong case to bring the real estate sector under the ambit of the goods and services (GST), identifying it as the one sector where maximum amount of evasion takes place. The matter will be discussed in the next meeting of the GST, which will be held on 9 November, in Guwahati, Jaitley reportedly said, while delivering a lecture at Harvard University.

The S&P Realty index had underperformed the market over the past one month till 11 October 2017, sliding 4.54% compared with the Sensex's 0.15% fall. The index had also underperformed the market over the past one quarter, declining 2.51% as against the Sensex's 0.27% rise. The scrip had, however, outperformed the market over the past one year, gaining 34.41% as against the Sensex's 13.36% rise.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 12 2017. 13:46 IST
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