Real estate stocks surged up to 16 per cent on hopes that regulator Sebi board will consider proposal for relaxed norms for REITs (Real Estate Investment Trust).
Shares of Unitech soared 15.75 per cent, Housing Development and Infrastructure surged 7.15 per cent, Oberoi Realty gained 5.91 per cent, Sobha rose by 4.36 per cent on BSE.
D B Realty was up 3.87 per cent, Indiabulls Real Estate rose by 3.52 per cent and DLF gained 2.63 per cent.
The BSE realty index climbed 3.51 per cent to settle at 1,476.39.
The regulator's board is looking to examine a proposal to make Real Estate Investment Trusts (REITs) more attractive to investors by allowing them to invest a large portion of funds in under-construction assets, sources had said.
Besides, REITs may be allowed to have a larger number of sponsors.
