Godrej Properties experienced its worst quarterly performance since 2010, reporting a drop in profit and subdued sales, but management remains optimistic about future growth.
Shares of Mumbai-based real estate firms fell sharply following reports of a proposed stamp duty hike by the Maharashtra government, prompting concerns over market demand.
Realty stocks surged as reports emerged that state-run banks will introduce special home loan plans under a government stimulus package, offering interest rates as low as 8.5%.
Shares of Indiabulls Real Estate and Indiabulls Financial Services surged following assurances of no non-performing loans and positive market sentiment due to central bank actions.
Realty stocks dipped 3.70% on Wednesday, led by Indiabulls Real Estate which plunged by over 11%. DLF also saw a decline amid weak market sentiments.
Realty market slowdown to accelerate in 6 months due to stock market downturn, experts warn, with investors selling flats at lower rates.
Realty stocks are experiencing a significant decline due to market uncertainty, a slowdown in the real estate sector and rising input costs. Major players like DLF and Unitech have seen substantial drops in their share prices.