Peninsula Land (up 3.79%), Phoenix Mills (up 3.40%), Indiabulls Real Estate (up 2.79%), Oberoi Realty (up 2.59%), Housing Development and Infrastructure (HDIL) (up 1.90%), D B Realty (up 0.99%), Sobha (up 0.95%), Godrej Properties (up 0.86%), Anant Raj (up 0.75%), Sunteck Realty (up 0.68%), DLF (up 0.58%), Omaxe (up 0.42%) and Prestige Estates Projects (up 0.35%), edged higher. Mahindra Lifespace Developers (down 1.26%), Unitech (down 1.9%) and Parsvnath Developers (down 2.21%), edged lower.

The S&P BSE Sensex was up 152.08 points, or 0.42% at 36,408.77.

For making more homes available under affordable housing, the benefits under Section 80-IBA of the Income Tax Act is being extended for one more year, i.e. to the housing projects approved till 31st March 2020.

For giving impetus to the real estate sector, Piyush Goyal proposed to extend the period of exemption from levy of tax on notional rent, on unsold inventories, from one year to two years, from the end of the year in which the project is completed.

Currently, income tax on notional rent is payable if one has more than one self-occupied house. Considering the difficulty of the middle class having to maintain families at two locations on account of their job, children's education, care of parents etc. Piyush Goyal proposed to exempt levy of income tax on notional rent on a second self-occupied house.

Further, the TDS threshold for deduction of tax on rent is proposed to be increased from Rs 1,80,000 to Rs 2,40,000 for providing relief to small taxpayers.

The benefit of rollover of capital gains under section 54 of the Income Tax Act will be increased from investment in one residential house to two residential houses for a tax payer having capital gains up to Rs 2 crore. This benefit can be availed once in a life time.