Shares of ten real estate companies rose by 0.06% to 9.67% at 11:25 IST on BSE after the Union Cabinet yesterday, 9 December 2015, approved the Real Estate (Regulation and Development) Bill, 2015.
Ajmera Realty & Infra India (up 9.67%), DLF (up 0.95%), Unitech (up 2.64%), Orbit Corporation (up 1.91%), Sobha (up 1.56%), Godrej Properties (up 0.09%), Prestige Estates Projects (up 2.27%), Parsvnath Developers (up 0.06%), Oberoi Realty (up 0.38%) and Housing Development and Infrastructure (HDIL) (up 1.56%) edged higher. D B Realty (down 0.37%) and Indiabulls Real Estate (down 1.04%) fell.
The BSE Realty index was up 0.96% at 1,290.60. It outperformed the Sensex, which was up 0.17% at 25,087.13
The S&P BSE Realty index had outperformed the market over the past one month till 9 December 2015, falling 2.82% compared with 4.16% fall in the Sensex. The index had also outperformed the market in past one quarter, falling 0.69% as against Sensex's 2.66% fall.
The Real Estate (Regulation and Development) Bill provides uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector. The Bill ensures mandatory disclosure by promoters to the customers through registration of real estate projects as well as real estate agents with the Real Estate Regulatory Authority.
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