Realty stocks edged higher today after the Union Government stated that it would encourage States with high stamp duties to moderates rates for all.
The Nifty Realty index added 0.81% to currently trade at 1,099.75. The benchmark Nifty 50 index was trading with a cut of 0.24% at 24,450.30.
Among the components of the Nifty Realty index, Oberoi Realty (up 3.6%), Sobha (up 3.27%), Prestige Estates Projects (up 2.74%), Mahindra Lifespace Developers (up 1.68%) Godrej Properties (up 1.6%), Macrotech Developers (up 0.89%) and Brigade Enterprises Ltd (up 0.38%) edges higher.
The Finance Minister announced that states charging high stamp duty will be encouraged to moderate their rates for all. Additionally, further reductions in duties for properties purchased by women will be considered. These measures will also be incorporated as essential components of urban development schemes.
Finance Minister Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government and her 7th consecutive one during the Monsoon Session of Parliament.
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