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RERA, GST and market sentiments hit DLF books

Implementation of Rera and GST has continued to elongate the sales cycle

DLF

DLF Limited has reported a decline of 58 per cent in its consolidated net profit at Rs 109.01 crore for the quarter ended June, as India’s largest realty firm has been buffeted by the enforcement of the Real Estate Regulation and Development Act (Rera) and the goods and services tax (GST), leading to absolutely no sale of residential properties since this May.   However, according to sources, DLF might get some relief as the 40 per cent stake sale of DCCDL (DLF Cyber City Developers Ltd) for Rs 13,000 crore to an affiliate of Singapore’s GIC might be complete later this ...