The index has gained over 1% so far on today's trading session.
At around 10:30 AM, the Nifty Realty was trading at 373.75 up 4.05 points or 1.10%. It touched an intraday high of 374.35 and an intraday low of 369.85 during early trading hours.
On the trading window, Indiabulls Real Estate was the top gainer surging by 3.36% followed by heavyweight Phoenix Mills edging up by 3% at Rs827.50 per piece. Prestige also jumped by 1.60% at Rs329.20 per piece.
Further, Hemisphere Properties climbed by 1.14% while and Brigade jumped by 1.09%. DLF, Sobha and Godrej Properties gained nearly 1% in the index to lead the gains.
On the Contrary, Sunteck and Oberoi Realty dragged the sector most.
Oberoi Realty shed over 0.47% at Rs660.95 per piece. Sunteck continued to remain as the top loser performing at Rs340.50 per piece down by 1.23%.
According to a report by Anarock, data from the financial presentations of the top 7 listed realty companies reveals that listed players are gearing up to launch close to 92.5 mn sq ft of new residential space within the next 1-2 years. Apart from the top 7 cities, they are also zeroing in on these major tiers 2 and 3 cities – and at least 70-75% of this supply may be launched in FY2022 itself.