This document summarizes key impacts of the Indian budget on real estate: 1) Property owners are exempt from paying income tax on notional rent from a second self-occupied house until March 2020. 2) The TDS threshold for rental income has increased to Rs. 2.4 lakhs from Rs. 1.8 lakhs. 3) The tax exemption under Section 54 for capital gains reinvestment can now be claimed for investment in two properties instead of one, up to Rs. 2 crores.