At around 1.20 pm, Nifty Realty index was trading at 342.30 up 12.75 points or 3.87%, touching a high of 343.65 during an intraday trade on Tuesday.
The Realty Index has made consistent gains in recent times after Maharashtra cabinet on January 6 cleared the proposal to reduce all premiums for on-going as well as new real estate projects by 50%, up to December 2021.
DLF surged 10.20% to Rs272.15 per piece. Indiabulls Real Estate was also bullish at Rs87.75 per piece up 3.97% while Prestige was 3.5% higher. Prestige Estates Projects recently acquired a 50% stake in Pandora Projects.
SunTeck Realty also rose 4% to Rs387 in early trade after the realtor said its sales bookings increased 7% year-on-year to Rs349cr in the third quarter on better demand. It was selling at Rs380.70 up Rs9.55 or 2.57%.
Oberoi Realty (up 2.30%), Brigade (up 2.04%) and Godrej Properties (up 1.33%) were also in huge demand.
Omaxe and Sobha were also marginally higher.
Phoenix Limited after leading the gains on Monday was at the bottom, trading 0.31% lower.
BSE Sensex was trading at 49,463.99 up 194.67 points or 0.40% and Nifty 50 at 14,558.95 up 74.20 points or 0.51%.