Shares in real-estate companies with sizeable exposure to Mumbai fell on reports the state government of Maharashtra was planning to increase stamp duties in the city by as much as 160 times for residential and commercial properties.
'This will impact the investor sentiment and could have an adverse impact on demand for residential property in Mumbai,' said a real estate analyst, adding the commercial property sector could also be impacted.
On the BSE, HDIL down 5.45%, Indiabulls Real Estate down 3.80%, Unitech down by 3.19% and DB Realty down by 3.03%
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'This will impact the investor sentiment and could have an adverse impact on demand for residential property in Mumbai,' said a real estate analyst, adding the commercial property sector could also be impacted.
On the BSE, HDIL down 5.45%, Indiabulls Real Estate down 3.80%, Unitech down by 3.19% and DB Realty down by 3.03%
....more info