Property stocks fall; cabinet approves regulator

Reuters Market Eye - Shares of property companies fall after a minister said the cabinet had approved late on Tuesday the appointment of the first regulator for a sector that has struggled with a reputation for corrupt deals.

The appointment of a national regulator is part of the broader Real Estate (Regulation and Development) Bill, which seeks to bring accountability in the sector. The bill would need parliament approval.

DB Realty falls 2.7 percent, Parsvnath Developers is down 2.3 percent, Prestige Estates Projects drops 1.9 percent and Suntech Realty Ltd loses 1.4 percent.

(Reporting by Aditi Shah)