Realty stocks hog limelight
A day after the govt proposed significant relief for individuals, who bought houses before July 23
image for illustrative purpose
New Delhi: Realty stocks were in the limelight on Wednesday morning trade, with Godrej Properties surging over 4 per cent, a day after the government proposed significant relief for individuals who bought houses before July 23, 2024, by giving them the option to choose between two tax rates for long-term capital gains (LTCG) tax.Shares of Godrej Properties surged 4.12 per cent, Macrotech Developers rallied 4 per cent, DLF climbed 3.88 per cent, Oberoi Realty jumped 3.79 per cent and Mahindra Lifespace Developers advanced 1.82 per cent on the BSE. The BSE realty index quoted 1.72 per cent higher at 7,953.46 during the morning trade.
The Budget 2024-25 had proposed to lower the LTCG from 20 per cent to 12.5 per cent but removed the indexation benefits. The new rates have come into effect from July 23, 2024. The indexation benefit allowed taxpayers to compute gains arising out of the sale of capital assets after adjusting for inflation. Tax experts had said that the proposed changes in the Budget would raise the LTCG tax burden.
