Real estate shares weak; Godrej Properties, DLF, Mahindra Life shed 3% each

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

Shares of real estate companies were trading weak with the S&P BSE Realty index falling nearly 2 per cent on the BSE in Wednesday’s intra-day trade on concerns of rising interest rates and fears of a recession globally. 

At 12:54 pm; the S&P BSE Realty index was down 1.9 per cent as compared to a 1.1 per cent decline in the S&P BSE Sensex. Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates Projects slipped 1 to 2 per cent, at the time