AAP MP Raghav Chadha Wants Indexation Back, Warns of Black Money & Real Estate Sector Loss

The government's decision to remove the indexation benefit on the sale of old property will result in a huge inflow of black money in real estate, and investments in the sector will decrease, AAP Rajya Sabha member Raghav Chadha said on Thursday. Asking the government to roll back the proposal, Chadha, while participating in the discussion on the Union Budget 2024-25, said people will never be able to buy their "dream homes." "Restore indexation on long-term capital gains. Throughout the world, to woo investors, they are incentivized. In this country, by removing indexation, we are disincentivizing the investor class," he said, adding that removing indexation is not imposing a tax but is equivalent to "penalizing investors." "If you do not bring back indexation, three things will happen in this country. First, investment in real estate will go down, and people will never be able to buy their 'dream homes'," Chadha asserted.