Oberoi Realty, Capacit'e Infra fall up to 8% on reports of raid by I-T dept

Earlier this month, the I-T department had conducted searches at Mumbai and Pune-based offices of four other realty firms, including Hub Town, Atul Projects, Wadhwa Group and Radius Developers.

Shares of Oberoi Realty and Capacit'e Infraprojects slipped up to 3 per cent and 8 per cent, respectively in the afternoon trade on Tuesday after reports said Income Tax department had conducted searches at their respective Mumbai offices to probe related party transactions.

"There was suspicion on related party transaction within Oberoi. The I-T department also suspects a difference between the sale price of housing units shown on the books and the registered prices," a senior official of income tax department was quoted by Moneycontrol.

The report added that since Oberoi Realty deals in the luxury home segment, the