Finance Minister Nirmala Sithraman s announcements on affordable housing and extension of Pradhan Mantri Awas Yojana failed to cheer realty stocks, which fell up to 3%. Among the top losers were Brigade Enterprises, Sobha, Prestige Estates. The Nifty Realty Index was down by 1.07%. In the 10-stock index, there were 9 declines. The lone gainer was Swan Energy.
Capex outlay allocation has been increased by 11.1 per cent to Rs 11,11,111 lakh crore, accounting for 3.4 per cent of GDP. This, Puri said, will unlock the potential for real estate development across assets because major part of this allocation will be used for various infra upgrades and new projects.
Nirmala Sitharaman described the country s DPI as a new ‘factor of production’ in the 21st century, adding it was “instrumental in formalization of the economy”