Real estate related stocks such as Unitech, HDIL, Indiabulls Real Estate, Phoenix Mills, Oberoi Realty, Anant Raj, Sobha and Godrej Properties rallied today.

Finance Minster Arun Jaitley will present Union Budget 2015-16, in the parliament tomorrow, February 28. Real Estate industry is looking for tax clarity with regards to Real Estate Investment Trust (REIT) in the budget. Abolishing capital gains tax, minimum alternate tax (MAT) applicability and dividend distribution tax (DDT) would make REITs attractive for both retail and institutional investors and bring about much needed liquidity for commercial projects. Finance Minister Arun Jaitley, while presenting the Budget for 2014-15, had allowed setting up of REITs.

Industry expects finance minister to give industry status to real estate development. Industry recommends allocation of funds to kick start initiatives such as smart cities and housing for all. Increase in housing loan interest exemption, infrastructure status for integrated township and group housing, allowing ECBs in all spheres of housing and real estate development, as also in SEZ projects, encouraging foreign institutional participation in infrastructure, are some of the other expectations of the industry. Industry also expects a final directive on Real Estate Regulation Bill.

Unitech gained the most with rise of 11.65%, followed by Housing Development & Infrastructure (HDIL) (4.81%), Indiabulls Real Estate (4.38%), Phoenix Mills (2.78%), Anant Raj (2.57%) and Oberoi Realty (2.57%), Sobha (2.19%) and Godrej Properties (0.52%).