The Nifty Realty index was trading 2.74 per cent down at 294 around 3 pm.
Sobha (down 2.65 per cent), Prestige Estates Projects (down 2.11 per cent) and DLF (down 1.27 per cent) also were in the pack of losers.
Phoenix Mills (up 1.89 per cent) and Oberoi Realty (up 0.80 per cent), however, were the two stocks that were bucking the trend and trading with gains.
Benchmark NSE Nifty50 index was down 78 points at 10519, while the BSE Sensex was 227 points down at 34,621.
Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.
State Bank of India, BPCL and Tata Consultancy Services were leading the pack of Nifty gainers.
On the other hand, Dr. Reddy's Laboratories, Sun Pharma and UPL were the top losers in the Nifty index.