Shares of most real estate companies went above 5 per cent on the National Stock Exchange (NSE) in an otherwise weak market on the back of heavy volumes.DB Realty share price settled above 5.06 per cent at Rs. 40.55. The stock was trading at Rs. 40.50 to touch the day’s high and low at Rs. 41.65 and Rs. 38.50.
During the past 11 trading sessions, realty index has outperformed the market by increasing 10 per cent after Prime Minister Narendra Modi on December 31, 2016 announced new schemes to boost the housing sector. The benchmark index was up 2.5 per cent during the same period. In his address to the nation, PM Modi declared that home loans in urban areas up to Rs 9 lakh and Rs 12 lakh will get interest subvention of 4 per cent and 3 per cent, respectively. Furthermore, in rural areas home loans up to Rs 2 lakh will receive interest rebate of 3 per cent. The number of houses being built for the poor in rural areas under the Pradhan Mantri Awaas Yojana is being hiked by 33 per cent.
No comments:
Post a Comment