India's realty stocks gain after April stamp duty registrations in Mumbai rise

Anant Raj

30/04/2025 09:17

** India's Nifty Realty index .NIFTYREAL rises 2.5%

** Macrotech Developers MACE.NS, Godrej Properties GODR.NS, DLF DLF.NS up 4.7%, 3.4%, and 2.5%, respectively

** Phoenix Mills PHOE.NS up 2.1%, Sobha Ltd SOBH.NS gains 2%, and Prestige Estates Projects PREG.NS rises 1.6%

** 8 out of 10 constituents of NIFTYREAL gain

** Arkade Developers ARKD.NS Chairman and MD says stamp duty registrations in Mumbai for April grew 1.6% Y/Y

* Adds, "while the rise may appear modest, it indicates sustained end-user confidence and underlying demand in Mumbai"

** NIFTYREAL down ~15% YTD

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))