DLF, Phoenix Mills, Anant Raj gain as Nifty Realty index jumps 2%: Key triggers explained

Real estate stocks were trading in the green on Thursday, September 17, amid a rebound in the equity market after recent sharp sell-offs. The NIFTY REALTY index rallied as much as 2.17% to the high of 840.20, with all 10 constituents in positive territory.

Realty stocks were among the gainers on Thursday, tracking broader bargain buying in the market after recent weakness. The sector is also benefiting from continued investor interest in India's residential and commercial real estate story, although today's gains come despite a fresh US Fed rate hike, which keeps the outlook for rate-sensitive sectors in focus.

How individual stocks were faring

At 12:42 PM, DLF shares were up 3.16% to ₹642.45 apiece on the NSE, while Lodha Developers was up 1.66% to ₹1,105.50. Prestige Estates Projects shares were up 1.88%to ₹1,450.80, and Godrej Properties was trading 1.24% higher to ₹1,686.

Oberoi Realty shares were up 1.57% at ₹1,733.70 apiece on the NSE; Phoenix Mills was up 1.87% at ₹1,889.60.

Key updates market participants need to know

BoFA Securities on Phoenix Mills

The investment bank has initiated coverage on Phoenix Mills. It views the company as a high-quality compounder, supported by a healthy balance sheet and strong growth prospects.

BoFA expects an uptick in occupancy, mark-to-market gains, and the addition of new malls and office assets to drive around 20% EBITDA CAGR over FY26–FY29E, with growth expected to accelerate each year.

The investment bank also sees a long runway for retail capacity addition in India, with Phoenix Mills well placed to capitalise on this opportunity through continued land acquisitions.

UP RERA approves 13 realty projects worth ₹2,380 crore

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) last week said it has approved 13 real estate projects involving an estimated investment of ₹2,380.04 crore in six districts, with Barabanki accounting for the highest investment and Lucknow for the largest number of units.

The approvals are expected to expand residential and commercial development in the state and support construction activity. The development adds to positive sentiment around the real estate sector, with investors also tracking project launches, occupancy trends, and new capacity additions amid continued demand for residential and commercial properties.

Anarock Consumer Sentiment Survey H1-2026

The latest Anarock Consumer Sentiment Survey points to continued premiumisation in India’s residential housing market, with buyers showing a strong preference for larger homes. Around 48% of respondents preferred 3BHK homes, making it the most sought-after configuration, while 2BHKs accounted for 38%. The preference for 4BHK and larger homes has also risen to nearly 5%, from around 3% in H1 2024.

The shift towards larger homes is also reflected in budgets, with the ₹90 lakh–₹1.5 crore segment emerging as the most preferred price bracket. Despite rising property prices, 44% of respondents said they intend to proceed with their planned purchase, while 38% may delay it slightly.

This suggests that price appreciation is influencing what, where, and when buyers purchase, rather than significantly weakening the underlying demand for homes.

Importantly, end-use remains the key driver of housing demand, with 68% of respondents looking to buy for self-use, compared with 32% for investment.

The findings indicate that demand for larger and higher-value homes is being supported by genuine housing needs, even as buyers increasingly consider factors such as rental income and resale value when evaluating properties.