Realty stocks surges on reports of hike in ready reckoner rates for properties in Maharashtra
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Stocks of real estate companies rallied as much as 13 per cent in early trade on Bombay Stock Exchange (BSE) on media reports that the Maharashtra government has increased ready reckoner rates for residential and commercial properties from today.
Riding high on media reports, shares of Godrej Properties gained as much as 13 per cent to trade at Rs 187 a piece on the BSE.
Among others, Indiabulls Real Estate surged 4.4 per cent at Rs 72, followed by HDIL (2.5% at Rs 54.90) and Sobha Developers (2% at Rs 318) on BSE.
Meanwhile, the broader benchmark Sensex was quoting at 21,190.58, up 19.90 points or 0.09 per cent at 10:40 hours.