Comments
Real estate stocks gained as much as 9 per cent today after the Cabinet deferred a decision on setting up a regulator for the sector.
Shares of D B Realty jumped 8.99 per cent, while HDIL surged 5.96 per cent on the BSE. Unitech rose 4.9 per cent, while Anant Raj Ltd climbed 4.42 per cent and DLF by 3.99 per cent.
The BSE realty index was trading with a gain of 2.08 per cent at 1,505.05.
According to sources, the Cabinet had yesterday discussed about the Real Estate Development and Regulation Bill but deferred a decision on it.
The Bill, which was introduced in the Rajya Sabha in August last year, seeks to protect home buyers from unscrupulous developers.
It was then referred to a Parliamentary Standing Committee, which had submitted its report in February.
The Bill provides for mandatory registration of all projects, besides mandatory disclosure of information like details of promoters, layout plan, land status, schedule of execution, status of various approvals and carpet area.
Real estate developers have been opposing the proposed law, saying it does not cover all stakeholders, including the government authorities that give project approvals.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.