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Real estate stocks have been witnessing a sharp surge in recent times in line with general market movements. The BSE Realty index jumped 2.03 per cent on Monday and 18.3 per cent over a week’s period. According to market men, following HDFC’s decision to cut interest rate, a section of market participants strongly believe that similar announcements would come from other banking majors, particularly from SBI. Mr K.P. Singh, Chairman, DLF, had commented a week ago that property market was subdued due to higher mortgage rates but was hopeful that a drop in interest rates would result in a surge in demand. However, some analysts tracking banking space, don’t expect any rate cut and expect the rate to remain stable for some more time. Besides, reports that land prices have started appreciating at a few places also fuelled the stock prices of realty counters, said analysts tracking the realty sector.

K.S. Badri Narayanan

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