Realty stocks traded mixed at 14:45 IST on BSE after the finance minister Arun Jaitley said that the government will establish a dedicated Affordable Housing Fund in National Housing Bank.
Meanwhile, the S&P BSE Sensex was up 30.05 points or 0.08% at 36,007.36. The S&P BSE Realty index declined 0.69%, underperforming the Sensex.
Puravankara Projects (up 4.85%), D B Realty (up 2.96%), Brigade Enterprises (up 2.26%), Godrej Properties (up 2.18%) and Prestige Estates Projects (up 0.28%) gained. Indiabulls Real Estate (down 2.38%), Oberoi Realty (down 1.84%), Unitech (down 1.78%), DLF (down 1.64%), HDIL (down 1.3%) and Sobha (down 0.23%) declined.
Jaitley, in his Budget speech for FY 2019, said that the government will establish a dedicated Affordable Housing Fund (AHF) in National Housing Bank, funded from priority sector lending shortfall and fully serviced bonds authorized by the Government of India.
The government has a fixed a target that every poor of this country may have his own house by 2022. For this purpose Prime Minister Awas Yojana has been launched in rural and urban areas of the country. Under Prime Minister Awas Scheme Rural, 51 lakh houses in year 2017-18 and 51 lakh houses during 2018-19 which is more than one crore houses will be constructed exclusively in rural areas, Jaitley said. In urban areas the assistance has been sanctioned to construct 37 lakh houses.
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