Sobha, Indiabulls Real Estate gain up to 5% as FM hints at booster dose

The real estate sector has been struggling for the last three years and has not revived since demonetisation and the introduction of good and services tax (GST).

Realty stocks including Indiabulls Real Estate, Sobha, and Prestige Estate Projects gained up to 5 per cent in the morning deals on Wednesday after Finance Minister Nirmala Sitharaman said  the Centre is working with the Reserve Bank of India (RBI) towards tweaking the existing laws to make them conducive for the real estate sector.

"The sluggishness in the sector needs to be addressed and we are glad to tell you that we have alternative funds approaching us,” Sitharaman told media persons during the silver subilee celebrations of the National Stock Exchange (NSE). 

The finance minister accepted that the real sector has not