Property stocks fall as cabinet approves regulator part of the Real Estate (Regulation and Development) Bill
Shares of property companies fall after a minister said the Indian 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 Ltd falls 2.7 per cent, Parsvnath Developers Ltd is down 2.3 per cent, Prestige Estates Projects Ltd drops 1.9 per cent and Suntech Realty Ltd loses 1.4 per cent. More details here
Shares of property companies fall after a minister said the Indian 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 Ltd falls 2.7 per cent, Parsvnath Developers Ltd is down 2.3 per cent, Prestige Estates Projects Ltd drops 1.9 per cent and Suntech Realty Ltd loses 1.4 per cent. More details here
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