Real estate shares are under significant selling pressure due to high inflation and interest rates, with notable declines across major companies like DLF and Unitech.
DB Realty faces changes in its board as Michael McCook resigns and new directors KM Goenka and Usman Balwa are appointed amid ongoing legal issues related to the 2G scam.
The realty market witnesses a resurgence in demand for luxury homes, not just in prime locations like Bangalore and Mumbai but also in tier-II and tier-III cities like Nagpur and Ahmadabad.
Real estate could trigger market corrections if large IPOs fail, says HDFC Chairman Deepak Parekh. Recent IPOs are overpriced and Indian realtors aim to raise significant funds.