At around 10:35 AM, Nifty realty was trading at 505.25 down 11.05 points or 2.14%, after touching a high of 517.75 and low of 504.45 during intraday trade.
Meanwhile, the BSE Sensex was trading at 59,981.65 down 96.23 points or 0.16% and the Nifty50 at 17,857.90 up 2.80 points or 0.02%.
On the sectoral front, while IT stocks were down 1%, PSU Bank, metal and oil & gas indices gained by about 1% each in the volatile session.
Oberoi Realty emerged as biggest laggard plunged by 7% at Rs880.95 per piece. Prestige and DLF shed around 3% at Rs479.80 per piece and Rs410 per piece respectively to join the bears.
Real Estate majors Sobha (-1.73%), Sunteck (-1.38%), Phoenix Mills (-1.27%) and Godrej Properties (-1.03%) hit the red zone to drag the sector most after one-month bullish run. Brigade also shed 0.62% on the sector.
However, on the upside Hemisphere Properties top the charts by adding 1.30% gains at Rs143.95 per piece to the sector. Indiabulls Real Estate also supported the index by gaining nearly 1%.