The BSE Realty index on Monday soared 4.3 per cent-most among the 19-sectoral sub-indices-buoyed by the proposal to formalise fractional ownership of real estate in the country.
The Securities and Exchange Board of India (Sebi) on Friday issued a discussion paper proposing to regulate online platforms offering fractional ownership in real estate, a model already popular in countries such as the United States and UAE.
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The BSE Realty index-a gauge of real estate stocks-rose 4.2 per cent on Monday, extending its two-day advance to 7.8 per cent.
The latest gains came on the back of robust sales posted by realty developers in the March quarter of financial year 2022-23 (Q4FY23).
On Thursday, the rate-sensitive index had gained 2.9 per cent following the Reserve Bank of India s decision to pause interest rate hikes in its latest monetary policy review.
New Delhi [India], March 17 (ANI/Mediawire): If you look at the appreciation and growth index of Delhi-NCR, you will be amazed to know that plot rates in most areas of Gurgaon have appreciated by over 1000 times in the last 30 years and over 2 times in the last 2 years.