Oberoi Realty to Lodha, Godrej Properties: Real estate stocks decline up to 4% after BMC's construction water ban

The BMC suspended water supply to construction sites across Mumbai after reservoir levels fell to 10.35% on a delayed monsoon, also imposing a 20% cut for industrial and commercial users. Real estate stocks came under selling pressure, with Macrotech Developers (Lodha) falling about 4%, while Oberoi Realty and Godrej Properties dropped around 3%; Prestige Estates, Anant Raj, Sunteck Realty and Mahindra Lifespace also traded lower. Investors are concerned that prolonged restrictions could delay project execution, postpone handovers and affect revenue recognition for Mumbai-focused developers.