If you are planning to sell a house, well there is good reason to cheer. The holding period for capital gains on sale of immovable property i.e. land and building to qualify as long term capital gains (LTCG) is proposed to be reduced to 2 years from 3 years. Courtesy the Union budget 2017, also the base year for calculation of such capital gains with indexation benefit is also proposed to be shifted from 1981 to 2001.