Three months back, if someone would have recommended real estate stocks, you would have thought he must be joking.
After the demonetisation drive in November, the real estate sector was left in the ruins as the worst casualty of the cash ban.
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But you will be in for surprise if I tell you that the S&P BSE Realty index, the barometer of the real estate sector, has actually delivered 14 per cent return so far in 2017 and is up nearly 2 per cent since demonetisation.
What does it tell you? The concerns about the real estate sector are largely done with and after the mega booster dose from the Union Budget, things are looking not just rosy but attractive to make this sector a top investment bet for the year.
The Budget announcements clearly indicated that the government?s focus on improving affordability of homes will benefit end-users, which would result in significant increase in housing supply in the secondary market.
?In 2017, total NRI investment in realty in top eight cities is expected to touch $11.5 billion. This will represent 20 per cent of total market share, currently estimated at $60 billion,? KanikaBSE -5.00 % Gupta Shori, COO & Co- Founder, Square Yards, said in a report.
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