Real estate shares in focus; DLF, HDIL, Indiabulls up over 3%
DLF, HDIL, Indiabulls Real Estate, NBCC, DB Realty and Kolte Patil were up between 2% to 5%.
 "KKR eyes big-ticket realty deals")
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Shares of real estate companies have rallied by up to 5% on the National Stock Exchange (NSE) in an otherwise weak market on back of heavy volumes.
DLF, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, Ansal Properties, NBCC, DB Realty and Kolte Patil Developers were up between 2% to 5% on the NSE.
At 10:13 am; the Nifty Realty index, the largest gainer among sectoral indices, was up 2% as compared to 0.04% decline in the Nifty 50 index.
Thus far in 2017, in past 11 trading sessions, realty index has outperformed the market by surging 10% after Prime Minister Narendra Modi on December 31, 2016 announced new schemes to boost the housing sector. The benchmark index was up 2.5% during the same period.
In his address to the nation, PM Modi said home loans in urban areas up to Rs 9 lakh and Rs 12 lakh will receive interest subvention of 4% and 3%, respectively. Also, in rural areas home loans up to Rs 2 lakh will get interest rebate of 3%. The number of houses being built for the poor in rural areas under the Pradhan Mantri Awaas Yojana is being increased by 33%.
DLF, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, Ansal Properties, NBCC, DB Realty and Kolte Patil Developers were up between 2% to 5% on the NSE.
At 10:13 am; the Nifty Realty index, the largest gainer among sectoral indices, was up 2% as compared to 0.04% decline in the Nifty 50 index.
Thus far in 2017, in past 11 trading sessions, realty index has outperformed the market by surging 10% after Prime Minister Narendra Modi on December 31, 2016 announced new schemes to boost the housing sector. The benchmark index was up 2.5% during the same period.
In his address to the nation, PM Modi said home loans in urban areas up to Rs 9 lakh and Rs 12 lakh will receive interest subvention of 4% and 3%, respectively. Also, in rural areas home loans up to Rs 2 lakh will get interest rebate of 3%. The number of houses being built for the poor in rural areas under the Pradhan Mantri Awaas Yojana is being increased by 33%.