Real estate shares gain as FM Arun Jaitley announces slew of measures
Godrej Properties, Unitech, Oberoi Realty, DLF, Prestige Estates and HDIL were up between 2% and 7%
 "KKR eyes big-ticket realty deals")
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Shares of real estate companies have moved higher by upto 7% on the bourses after the finance minister Arun Jaitley announces slew of measures for realty sector.
Godrej Properties, Unitech, Oberoi Realty, DLF, Housing Development and Infrastructure Ltd (HDIL), Prestige Estates Projects from the realty index were up between 2% and 7% on the NSE.
At 01:01 pm; Nifty Realty index, the largest gainer among sectoral indices, was up 3% as compared to 0.50% rise in the Nifty 50 index.
Ashiana Housing, Ansal Housing & Constructions, Ganesh Housing Corporation and Kolte-Patil Developers from the non-index stocks were rallied in the range of 5% to 16% on the BSE.
Jaitley in his Budget speech on 1 February 2017 said that affordable housing to be given infrastructure status. The National Housing Finance will insure houses, Jaitley said. The real estate sector was among the most hit sectors due to the recent government's demonetisation drive banning higher denomination bank notes.
The duration of long term capital gains for immoveable properties reduced from 3 years to 2 years. Base year for indexation advanced from 1.4.1981 to 1.4.2001. Builders treating unsold houses as stock in trade would not be subjected to notional rental income for 1 year.
Affordable housing projects being essentially large format projects- extension of project completion from 3 years to 5 years for tax concessions is a positive move says experts.
Godrej Properties, Unitech, Oberoi Realty, DLF, Housing Development and Infrastructure Ltd (HDIL), Prestige Estates Projects from the realty index were up between 2% and 7% on the NSE.
At 01:01 pm; Nifty Realty index, the largest gainer among sectoral indices, was up 3% as compared to 0.50% rise in the Nifty 50 index.
Ashiana Housing, Ansal Housing & Constructions, Ganesh Housing Corporation and Kolte-Patil Developers from the non-index stocks were rallied in the range of 5% to 16% on the BSE.
Jaitley in his Budget speech on 1 February 2017 said that affordable housing to be given infrastructure status. The National Housing Finance will insure houses, Jaitley said. The real estate sector was among the most hit sectors due to the recent government's demonetisation drive banning higher denomination bank notes.
The duration of long term capital gains for immoveable properties reduced from 3 years to 2 years. Base year for indexation advanced from 1.4.1981 to 1.4.2001. Builders treating unsold houses as stock in trade would not be subjected to notional rental income for 1 year.
Affordable housing projects being essentially large format projects- extension of project completion from 3 years to 5 years for tax concessions is a positive move says experts.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| ASHIANA HOUSING | 167.80 | 144.05 | 16.49 |
| ORBIT CORPN. | 5.15 | 4.63 | 11.23 |
| ANSAL HOUSING | 26.80 | 24.40 | 9.84 |
| ELDECO HOUSING | 570.00 | 526.15 | 8.33 |
| KOLTE PATIL DEV. | 101.05 | 94.00 | 7.50 |
| DLF | 143.95 | 134.95 | 6.67 |
| D S KULKARNI DEV | 67.00 | 62.90 | 6.52 |
| KAUSHALYA INFRA. | 4.98 | 4.70 | 5.96 |
| PURAVANKARA | 47.90 | 45.50 | 5.27 |
| CITADEL REALTY | 28.40 | 27.05 | 4.99 |
| KINGS INFRA | 13.97 | 13.31 | 4.96 |
| JRI INDS. | 2.33 | 2.22 | 4.95 |
| MACRO INTL. | 25.50 | 24.30 | 4.94 |
| RADHE DEVELOP. | 30.10 | 28.70 | 4.88 |
| NITESH ESTATES | 9.45 | 9.02 | 4.77 |
| ANSAL PROPERTIES | 15.80 | 15.09 | 4.71 |
| GODREJ PROPERT. | 346.50 | 331.40 | 4.56 |
| D B REALTY | 41.75 | 39.95 | 4.51 |
| DIAMANT INFRA. | 0.94 | 0.90 | 4.44 |
| H D I L | 65.05 | 62.45 | 4.16 |