The DLF Camellias has firmly established itself as the most sought-after address for India’s wealthiest. However, it has come under fresh scrutiny after SEBI accused promoters Anmol and Puneet Jaggi of misusing company funds to purchase an apartment in the project. 

'Inside the obsession': Why DLF Camellias rules Gurgaon’s elite

DLF's billion-dollar housing project was sold out in 72 hours. Godrej is offering high-end apartments for $3 million. Indian elites are queuing up to buy luxury houses. Can they really afford that amid fears of recession? Molly Gambhir reports.

Gravitas: DLF sells residential project for $1 billion

Yearender 2021-From Zomato to DLF: Here are India's 10 biggest IPOs

Equity benchmark indices were in the negative zone during early hours on Thursday in line with global cues as uncertainty continued over the chance of global fiscal stimulus.

At 10:15 am, the BSE S &amp; P Sensex was down by 129 points at 36,932 while the Nifty 50 edged lower by 46 points to 10,873.

At the National Stock Exchange, all sectoral indices were in the red except for FMCG. Nifty realty plunged by 6.3 per cent.

Among auto stocks, realty major DLF plummeted 17.5 per cent to Rs 141.35 per share. Oberoi Realty was down 4.3 per cent while Indiabulls Housing Finance suffered a bruising fall of 7.8 per cent to Rs 445.80 per share and Yes Bank lost by 4.2 per cent.

The other prominent losers were Bajaj Finserv, Vedanta, Adani Ports and JSW Steel which lost over 2 per cent each. Hindalco, Zee Entertainment, IndusInd Bank and Bajaj Finance too were in the red.

But FMCG major Britannia gained by 2.6 per cent. Dr Reddy's, ITC, Bharti Infratel and Hindustan Lever showed marginal gains.

Meanwhile, Asian shares went flat as uncertainty continued over the outlook for US interest rates and the global fiscal stimulus.

MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2 per cent in very light volumes. Japan's Nikkei was down by 0.05 per cent and the Shanghai Composite Index slipped 0.18 per cent. Hong Kong's Hang Seng too lost by 0.8 per cent.

Equity benchmark indices were in the negative zone during early hours on Thursday in line with global cues as uncertainty continued over the chance of global fiscal stimulus.

Equity benchmark indices were in the negative zone during early hours on Thursday in line with global cues as uncertainty continued over the chance of global fiscal stimulus. At 10:15 am, the BSE S & P Sensex was down by 129 points at 36,932 while the Nifty 50 edged lower by 46 points to 10,873. At the National Stock Exchange, all sectoral indices were in the red except for FMCG. Nifty realty plunged by 6.3 per cent. Among auto stocks, realty major DLF plummeted 17.5 per cent to Rs 141.35 per share. Oberoi Realty was down 4.3 per cent while Indiabulls Housing Finance suffered a bruising fall of 7.8 per cent to Rs 445.80 per share and Yes Bank lost by 4.2 per cent. The other prominent losers were Bajaj Finserv, Vedanta, Adani Ports and JSW Steel which lost over 2 per cent each. Hindalco, Zee Entertainment, IndusInd Bank and Bajaj Finance too were in the red. But FMCG major Britannia gained by 2.6 per cent. Dr Reddy's, ITC, Bharti Infratel and Hindustan Lever showed marginal gains. Meanwhile, Asian shares went flat as uncertainty continued over the outlook for US interest rates and the global fiscal stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2 per cent in very light volumes. Japan's Nikkei was down by 0.05 per cent and the Shanghai Composite Index slipped 0.18 per cent. Hong Kong's Hang Seng too lost by 0.8 per cent.

Sensex continues downward slide, Nifty realty dips 6.2 per cent as DLF cracks 17 per cent

Realty stocks plunged up to 20 per cent in early trade today with scrips of Unitech and DLF taking a major hit following the government&#39;s measures to clamp down on the black money menace.

Deep in the red, S&amp;P BSE Realty index was lower by nearly 11 per cent at 1,314.97 points in the first hour of trading.

In initial trade, Unitech tumbled nearly 20 per cent while DLF dropped over 13 per cent before making a slight recovery.

While Unitech was trading at INR 4.75, DLF was down at INR 126. Among other scrips, Prestige Estates Projects too shed 17 per cent to INR 153.25, Sobha Developers declined over 11 per cent to INR 240 and Godrej Properties slumped 7 per cent to INR 333.

The benchmark 30-share Sensex crashed over 1,500 points in opening trade before making up some of the lost ground but was down by more than 660 points at 26,928.70 points later.

In a major crackdown against black money, Indian Prime Minister Narendra Modi, late on Tuesday, announced that high denomination notes of INR 500 and INR 1000 would no longer be legal tender.

While declaring a &quot;decisive&quot; war against black money and corruption, he also came out with a slew of steps to assure commoners that their money is safe.

New notes of INR 2,000 and INR 500, with completely new design, would be introduced.

According to experts, demonetisation of INR 1,000 and INR 500 notes are likely to hit unorganised builders and secondary (resale) property market. Housing prices could witness downward pressure, helping revive demand in this segment which is seeing sluggish trends.

(PTI)

Unitech tumbled nearly 20% while DLF dropped over 13% before making a slight recovery

Realty stocks plunged up to 20 per cent in early trade today with scrips of Unitech and DLF taking a major hit following the government's measures to clamp down on the black money menace. Deep in the red, S&P BSE Realty index was lower by nearly 11 per cent at 1,314.97 points in the first hour of trading. In initial trade, Unitech tumbled nearly 20 per cent while DLF dropped over 13 per cent before making a slight recovery. While Unitech was trading at INR 4.75, DLF was down at INR 126. Among other scrips, Prestige Estates Projects too shed 17 per cent to INR 153.25, Sobha Developers declined over 11 per cent to INR 240 and Godrej Properties slumped 7 per cent to INR 333. The benchmark 30-share Sensex crashed over 1,500 points in opening trade before making up some of the lost ground but was down by more than 660 points at 26,928.70 points later. In a major crackdown against black money, Indian Prime Minister Narendra Modi, late on Tuesday, announced that high denomination notes of INR 500 and INR 1000 would no longer be legal tender. While declaring a "decisive" war against black money and corruption, he also came out with a slew of steps to assure commoners that their money is safe. New notes of INR 2,000 and INR 500, with completely new design, would be introduced. According to experts, demonetisation of INR 1,000 and INR 500 notes are likely to hit unorganised builders and secondary (resale) property market. Housing prices could witness downward pressure, helping revive demand in this segment which is seeing sluggish trends. (PTI)

India: Real estate shares tumble 20% in early trade

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'Inside the obsession': Why DLF Camellias rules Gurgaon’s elite

Gravitas: DLF sells residential project for $1 billion

Gravitas: DLF sells residential project for $1 billion

Yearender 2021-From Zomato to DLF: Here are India's 10 biggest IPOs

Sensex continues downward slide, Nifty realty dips 6.2 per cent as DLF cracks 17 per cent

India: Real estate shares tumble 20% in early trade