Realty sector loses Rs 6,480 crore in market value after Union Budget | Business Standard
The listed companies in the real estate sector lost Rs 6,480 crore worth of market value till Friday after Finance Minister Nirmala Sitharaman in her Union Budget speech on Tuesday announced the removal of indexation benefits on the sale of property. Stock market data shows the listed stocks recovered part of their losses on Friday but ended the week with a net loss compared to the day before the Budget was presented. The total market valuation of real estate sector companies was Rs 6.98 trillion as of Friday. Analysts say the removal of indexation may dampen investor sentiments, particularly in the high-end segments where returns are 10 per cent to 11 per cent per annum.