Budget 2024 took away property indexation: Gainers, losers, tax calculation

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Budget 2024 took away property indexation: Gainers, losers, tax calculation - Business Standard

Quick Summary:

While the new norms are applicable from immediate effect, the government has clarified that the removal of indexation benefits will not be applicable to old properties held before 2001, which would continue to get indexation benefits.

Middle-income housing players like Sobha, Prestige Estates, Sunteck Realty, and Godrej Properties stand to gain, CLSA said, in the backdrop of a higher allocation to Pradhan Mantri Awas Yojna (PMAY) from Rs 251 billion to Rs 301.7 billion.

On the contrary, the development will impact those who sell their house / property and reinvest the proceeds in other asset classes.