Real Estate stocks had a flying start in today's trades. Know why

Real Estate stocks, especially those with an exposure to Noida, a suburb north of Delhi, had a flying start in Wednesday's trade after the National Green Tribunal gave a nod to a part of the suburb where construction and sales had seized owing to its proximity to a bird sanctuary.

As a consequence, builders such as JP Associates, Unitech and the Ansal group will be able to sell up to 5,000 flats near and around the sanctuary that were earlier barred from the market after the NGT passed its order, trimming the sanctuary's outer limit.

Traders went long on JP Associates, which jumped 11 percent to 11 rupees. DLF gained 1.3 percent to 130.30 rupees, Unitech was up 0.7 percent to 7.20 rupees and Ansal Buildwell surged 10 percent to 169 rupees on the National Stock Exchange.

Real Estate Stocks have been pummelled out of shape as investors exited the sector on fears of a slowdown in demand and a fall in prices.

Image credit: Indiatimes