Realty stocks such as DLF, Sobha Ltd, Oberoi Realty, Prestige Estates, Phoenix Mills and Macrotech Developers rose up to 9% today after FM Nirmala Sitharaman in her Budget 2025 speech said taxpayers can claim annual value of two self-occupied properties as "nil" without any condition. Sentiment around the realty stocks also turned positive after Sitharaman said that no income tax will be payable on income up to Rs 12 lakh under the new tax regime. This will leave more money in the hands of salaried taxpayers and result in more consumption with some of the money expected to flow into the real estate sector.
Prestige Estates shares rose 9.31% to Rs 1,489.95 on BSE against the previous close of Rs 1363 on BSE. Market cap of Prestige Estates climbed to Rs 61,917 crore. Similarly, shares of NCR-based developer DLF rose 3 per cent to Rs 767.60 on BSE. Market cap of DLF climbed to Rs 1.87 lakh crore.
Oberoi Realty stock too zoomed 2.33% to Rs 1854.85. Market cap of the realty firm climbed to Rs 67,017 crore.
Another real estate major Phoenix Mills traded around 8 per cent higher at Rs 1774 on BSE. Market cap of the firm rose to Rs 62,550 crore.
Shares of South India-based developer Sobha Ltd climbed 4.61% to Rs 1385 in the afternoon session. Market cap of the firm stood at Rs 14,687 crore.
While Macrotech Developers shares rose nearly 5% to Rs 1268 on BSE. Market cap of the firm reached Rs 1.26 lakh crore.
Vikas Rathod, Managing Director and CEO, Ensemble Infra said, "Additionally, rationalising customs duties for construction materials is a practical move with potential real cost efficiencies on the ground. The budget sets the right direction and we look forward to seeing policies translate into on-ground acceleration of commercial development."
Avneesh Sood, Director, Eros Group said, "First-time homebuyers will benefit from enhanced tax incentives and relaxed TDS thresholds on rent, reducing financial strain. Affordable housing initiatives, including the completion of 40,000 units under the SWAMIH Fund, will provide more options for aspiring homeowners. The rationalization of property tax provisions simplifies compliance, easing the burden on buyers."
In her 8th Budget speech, Finance Minister Nirmala Sitharaman said, "Presently taxpayers can claim the annual value of self-occupied properties as nil only on the fulfilment of certain conditions. Considering the difficulties faced by taxpayers, it is proposed to allow the benefit of two such self-occupied properties without any condition."