Shares of Indian real estate firms are trading higher
by up to 5 % in (August 30) early morning deals after the Lok Sabha passes land
acquisition bill.
Anant Raj Industries,
Indiabulls Real Estate, Housing Development and Infrastructure (HDIL), Unitech,
Peninsula Land & DLF Ltd are trading higher in the range of 1% to 6 % on
BSE. The BSE realty index was up by 1.5 % as compared to 0.32 % rise in
benchmark S & P BSE Sensex at 0942 hours.
The central
government says the bill, which will replace a muddled law dating back to the
19th century, will help speed up industrial investment by making the rules
clearer.
Industry heads
believe that the Land Acquisition will ensure smooth procedure and lesser
delays in getting land for development, but will also spike costs of products
by almost 20% to 25 %, the media report suggests.
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