The real estate industry from Mr. Rohit Gera, MD, Gera Developments and VP CREDAI Pune Metro :"The thrust of the budget on rural India, infrastructure, health care is positive. The budget unfortunately once again neglects the distressed real estate sector. While the finance minister has recognised the challenges around the anomaly between circle rates and actual consideration the difference of 5% is inadequate. This should have been at least 10%. The introduction of long-term capital gains tax on equities however will be positive for real estate. Typically a 3 year indexed effective tax for real estate works out to approximate 10% which will be equivalent to the same tax payable on equities. The LTCG tax on equities therefore will push some investors towards real estate. The increase in the turnover limit to Rs. 250 crores for the tax @ 25% will cover most real estate developers across the country."