Luxury Development Boom Stokes Jump in Indian Real-Estate Shares

A rally in India’s real estate stocks is gaining momentum, driven by optimism that robust residential pre-sales and a boom in luxury housing projects will bolster investor confidence.

A gauge of local property shares have surged more than 25% from an April low, putting the sector on track to outperform the benchmark Nifty 50 Index for a fifth straight month in July. The rebound follows a sharp selloff earlier this year amid concerns about a slowing economy.