MUMBAI: Realty stocks on Wednesday ended on a mixed note a day after Parliament gave nod to a Bill that promises relief to home buyers and proposes imprisonment of up to three years, besides monetary penalty for any violation of rules.
Shares of National Buildings Construction Corporation rose by 4.20 per cent, Sobha went up by 1.21 per cent, Mahindra Lifespace (0.89 per cent), Phoenix Mills (0.85 per cent) and DLF (0.85 per cent) on BSE.
In contrast, Prestige Estates lost 2.47 per cent, HDIL (2.12 per cent), D B Realty (1.59 per cent), Unitech (1.33 per cent), Indiabulls Real Estate (1.31 per cent) and Godrej Properties (0.66 per cent).
The BSE realty index ended the day on a flat note, down 0.11 per cent at 1,173.37.
The Real Estate (Regulation and Development) Bill, 2013, approved by the Lok Sabha yesterday, after its passage by the Rajya Sabha, is designed to protect consumer interest, ensure efficiency in all property-related transactions, improve accountability of developers, boost transparency and attract more investments to the sector, the government said.
It provides for setting up of a Real Estate Regulatory Authority (RERA) which will ensure timely execution of projects -- both residential and commercial.SOURCE: ETRealty.com
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