With the
Indian Inflation sky rocketing to double digits, foreign institutional investors who were the main buyers of Real Estate Stocks in India have mercilessly dumped. The carnage has gotten worse because
Domestic Institutions are in no mood to pick-up stocks of these realty companies which absolutely have no transparency in their operations. Falling Land Prices is adding to realty Company woes. A broker even went to the extent of saying Politicians have started liquidating their Land holdings ahead of the General Elections.
Almost all of the
Real Estate Stocks hit a new low in todays trading though Nifty managed to hold 4,500 levels.
Most realty stocks have fallen between 77% and 51%. Ansal Infra, DLF, SOBHA Developers, UNITECH all recorded new lows.
Realty companies which were listed in the past 12-24 months have fallen below their issue Price. However, the good news is
India is not in any sub-prime kind of crisis, its just the Greedy Realtors who have lost sleep as they built their structures using paper-cards and not bricks ;-)
Most realty stocks have fallen between 77% and 51%. Ansal Infra, DLF, SOBHA Developers, UNITECH all recorded new lows. Realty companies which were listed in the past 12-24 months have fallen below their issue Price. However, the good news is India is not in any sub-prime kind of crisis, its just the Greedy Realtors who have lost sleep as they built their structures using paper-cards and not bricks ;-)
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