FY24
| March 31, 2024, 9:40 a.m.
Nifty Realty Index Surges 132% in FY24, Prompts Launch of Real Estate ETF
The Nifty Realty index has witnessed remarkable growth in FY24, rising 2.3 times and delivering absolute returns of over 132%. This surge, driven by continued demand for housing and a resilient office sector, has led to Motilal Oswal Asset Management launching the first exchange-traded fund (ETF) based on real estate stocks. Despite challenges such as higher interest rates and rising home prices, developers have incentivized buyers with easy payment terms, contributing to increased home sales. While Mumbai and Pune dominate housing demand, the office sector has also shown significant absorption, with leasing volumes up by a third year-on-year.
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