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Our Bureau

Mumbai, July 9 In recognition of the growing importance of the real-estate sector in the Indian economy, BSE today launched the BSE Realty Index.

The base year for the Realty Index will be 2005 and the base index value as 1,000.

It will be calculated on the free-float methodology, while 11 scrips will be listed in this index, including DLF, Unitech, and Parsvanath Developers.

It represents about 95 per cent market capitalisation of real-estate development companies in the BSE-500 index.

The index value today stood at 7,333.97 points. The data would be uploaded on the BSE Web site effective July 10.

The market capitalisation of the real-estate sector in India is just 4.2 per cent of the total market capitalisation, below the global norm of approximately 15 per cent, reflecting headroom for growth of this sector, an official release said.

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