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Oberoi Realty, Godrej Properties, others rise up to 7% as Maharashtra cuts levies on realty projects by 50%
Share of Oberoi Realty rose 6.88% to Rs 628 against previous close of Rs 587.55. Share of Sunteck Realty too gained 6.34% to Rs 369 in early trade against previous close of Rs 347.30.
BusinessToday.In | January 7, 2021 | Updated 11:52 IST
Godrej Properties share climbed 4.5% to Rs 1,527 against previous close of Rs 1,460. Stock of Indiabulls Real Estate rose 5.86% to Rs 83 in early trade against previous close of Rs 78.40.
Real estate stocks such as Godrej Properties and Oberoi Realty rose up to 7% in early trade today after Maharashtra government on Wednesday gave nod to a proposal to reduce levies on real estate by 50% until December 2021. The move is likely to lead to reduction in prices of houses in the state.