Real estate companies take a hit at BSE as shares drop
Indian real estate companies seem to take a hit due to imposition of VAT in Maharashtra.
The shares of most big players dropped for a second day as confusion kept arousing about who would end up paying a proposed retrospective value-added-tax(VAT) from the state of Maharashtra. The drop was caused by worries about a stringent land acquisition bill from the Maharashtra government.
As the bill does not make clear whether the builder or the buyer has to pay the additional VAT, confusions abound as to the consequences to be borne by the developers.
The Housing Development & Infrastructure Ltd and Indiabulls Real Estate fell 3-4 percent each.
To read more real estate news:
Khopoli on the outskirts of Mumbai offers investment options
Bombay Stock Exchange (BSE), Housing Development & Infrastructure Ltd, imposition of VAT, India real estate, Indiabulls Real Estate, Indian real estate, Indian real estate companies, Land Acquisition Bill, Maharashtra, Maharashtra government, Real estate in India, VAT
[...] Real estate companies take a hit at BSE as shares drop [...]
[...] Real estate companies take a hit at BSE as shares drop [...]