Real estate shares down 2-3% after SC ban on construction in some states

Real estate shares on Monday are trading lower by 2-3% after the Supreme Court (SC) banned further construction in a few states. The Supreme Court has put a ban on all construction activities in Maharashtra, Madhya Pradesh, Uttarakhand and Union Territory of Chandigarh as these states and UT failed to implement a solid waste management policy. According to the research firm, Citi, the blanket ban on construction could impact projects, and if imposed for long, can severely delay the projects. Oberoi Realty is most prone to delays due to its Mumbai focus, it added. Sunteck Realty was quoting at Rs 501.55, down 2.28 percent, Godrej Properties was quoting at Rs 672.15, down 2.10 percent and Oberoi Realty was quoting at Rs 439, down 0.66 percent.. Kolte-Patil Developers was quoting at Rs 272, down 2.46 percent, DLF was quoting at Rs 214.20, down 2.84 percent and CapaciteInfraprojects was quoting at Rs 268.50, down 0.59 percent on the BSE.