Yes, renovation costs can be considered capital expenditures, depending on the nature and purpose of the work. According to Indian accounting standards, expenses that enhance the value or extend the useful life of an asset are capitalized. For instance, significant structural improvements or additions to a property are typically treated as capital expenditures. Conversely, routine maintenance or repairs that do not add value are classified as revenue expenditures 

In the context of tenant improvements in Vancouver, Canada, such as installing steel stud partitions or acoustic panels, these costs are generally capitalized. They are considered part of the leasehold improvements and are depreciated over the lease term or the asset's useful life, whichever is shorter . So for more information on tenant improvement projects and related services, you might find local contractors helpful, as they specialize in steel stud framing and drywall solutions.

If you need further assistance or have specific questions about your renovation project, feel free to ask!