Only this stock in the Nifty Realty index gave negative returns in the last 3 years

In the recent years, the Narendra Modi-led government has introduced major reforms such as Real Estate (Regulation and Development) Act, Goods and Services Tax (GST), Insolvency and Bankruptcy Code and Benami Transactions (Prohibition) Act, to support the real estate sector struggling with dwindling sales, high inventory and price stagnation.

The GST council has also done away with the input tax credit (ITC) and reduced the GST rate for under-construction flats to five percent from 12 percent and for affordable housing to one percent from eight percent, from April 1, for all new projects.

While most realty stocks have given positive returns in the last 3 years, Indiabulls Real Estate has lost nearly 50 percent investor wealth in this period. The stock has fallen from Rs 87 in 2016 to Rs 44 currently, down 49 percent.