Realty Stocks Rally On Ordinance for Land Acquisition Law

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Realty stocks rallied sharply after the government approved an Ordinance for the Land Acquisition Law. Shares in Godrej Properties was up 13 per cent, while Sobha Gained 10 per cent and Phoenix also gained 7 per cent in trade. DLF and Unitech were the other gainers from the space.

    Realty Stocks Rally On Ordinance for Land Acquisition Law
    DLF: Quotes, News
    BSE 206.85BSE Quote3.95 (1.91%)
    NSE 206.70NSE Quote3.9 (1.89%)
    The Government on Monday recommended promulgation of an ordinance making significant changes in the Land Acquisition Act including removal of consent clause for acquiring land for five areas of industrial corridors, PPP projects, rural infrastructure, affordable housing and defence.

    Finance Minister Arun Jaitley said the government decided to relax certain provisions of the Act and add Section 10 A to the legislation keeping in the mind development needs of the society.

    He said the mandatory "consent" clause and Social Impact Assessment (SIA) will not be applicable if the land is acquired for five purposes including national security, defence, rural infrastructure including electrification, industrial corridors and building social infrastructure including PPP where ownership of land continues to be vested with the government.

    GoodReturns.in

    Read more about: dlf sobha
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more