Shares of real estate companies have moved higher by up to 5% erasing their entire losses after Finance Minister Arun Jaitley in his Union Budget says the government will provide tax incentives for Real Estate Investment Trusts (REIT).
The finance minister also proposes to increase interest cap limit to Rs 2 lakh from Rs 1.5 lakh on self-occupied houses.
DLF, DB Realty, Prestige Estates, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate and Phoenix Mills have rallied between 4-5% on the National Stock Exchange (NSE).
The NSE CNX Realty index, the largest gainer among sectoral indices, is up nearly 3% compared to 0.46% rise in benchmark CNX Nifty at 1315 hours.
According to market experts, individuals to benefit from higher tax exemption, increase in 80 C limit and increase in exemption for housing loans.
The finance minister also proposes the investments of Rs 4,000 crore for affordable housing through National Housing Bank (NHB).
Among the individual stocks, Prestige Estates has surged 5.4% at Rs 249, followed by DLF and Indiabulls Real Estate are up 5% each at Rs 214 and Rs 87 respectively.
The finance minister also proposes to increase interest cap limit to Rs 2 lakh from Rs 1.5 lakh on self-occupied houses.
DLF, DB Realty, Prestige Estates, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate and Phoenix Mills have rallied between 4-5% on the National Stock Exchange (NSE).
The NSE CNX Realty index, the largest gainer among sectoral indices, is up nearly 3% compared to 0.46% rise in benchmark CNX Nifty at 1315 hours.
According to market experts, individuals to benefit from higher tax exemption, increase in 80 C limit and increase in exemption for housing loans.
The finance minister also proposes the investments of Rs 4,000 crore for affordable housing through National Housing Bank (NHB).
Among the individual stocks, Prestige Estates has surged 5.4% at Rs 249, followed by DLF and Indiabulls Real Estate are up 5% each at Rs 214 and Rs 87 respectively.