Affordability, approvals, and infrastructure emerge as key budget priorities
As expectations build ahead of the Union Budget 2026, real estate leaders across Maharashtra are calling for focused policy interventions to sustain housing demand, improve affordability, and accelerate urban and infrastructure-led growth. Industry stakeholders believe the sector’s role as a key economic multiplier can be strengthened through enhanced tax incentives for homebuyers, infrastructure status for housing, rationalisation of GST on construction inputs, faster approvals, and sustained investments in connectivity, redevelopment, and sustainable development. Together, these measures are seen as critical to supporting balanced, inclusive, and long-term growth across residential, commercial, and luxury segments.
Prashant Sharma, President, NAREDCO Maharashtra, said real estate remains a critical driver of economic growth, employment generation, and allied industries. He noted that the industry is hopeful of measures that strengthen end-user demand, enhance affordability, and accelerate project execution. Granting infrastructure status to housing, particularly affordable and mid-income segments, would improve access to institutional finance and lower borrowing costs for developers, he said. Sharma also urged the government to revisit homebuyer tax benefits by increasing deduction limits under Sections 24(b) and 80C, rationalise GST on construction materials, and provide clarity on input tax credit. Faster approvals, support for redevelopment, and incentives for green development would support long-term, inclusive growth, he added.
Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory, said the sector is watching closely for policy continuity and targeted measures to sustain affordability and end-user confidence. He pointed to steady sales and rising participation from genuine homebuyers over the past year, and said calibrated tax relief, including enhanced deductions on home loan interest and principal, along with a relook at stamp duty and registration charges, could ease ownership costs and encourage first-time buyers. Agarwal added that continued focus on urban infrastructure, metro connectivity, and redevelopment-led growth would unlock new demand corridors, while clarity and consistency in taxation would strengthen buyer sentiment and developer confidence.
Shilpin Tater, Managing Director, Superb Realty, said the industry is optimistic about measures that enhance project viability and sustain demand across residential and commercial segments. Infrastructure status for housing, improved access to long-term financing, and ease of doing business would support developers, particularly in urban and redevelopment-led markets, he said. Tater also highlighted the need to address rising construction costs through GST rationalisation and input tax credit clarity. In commercial real estate, he said incentives for green-certified, energy-efficient buildings and technology-enabled workspaces, alongside continued investment in urban infrastructure, would help create future-ready assets aligned with global standards.
Kamlesh Thakur, Co-Founder and Managing Director, Srishti Group, said the Budget should focus on strengthening affordability, improving project viability, and accelerating urban development. Increasing tax benefits for homebuyers and extending interest subsidy schemes would support genuine end-user demand, especially in affordable and mid-income housing, he said. Thakur stressed that faster rollout of critical infrastructure, including metro corridors, arterial routes, and projects such as the Goregaon–Mulund Link Road, would unlock new micro-markets. He also called for single-window clearances, easier access to long-term capital, GST rationalisation, and incentives for sustainable development.
Shraddha Kedia-Agarwal, Director, Transcon Developers, said policy measures are needed to strengthen affordability, ease of doing business, and timely project execution. Enhanced tax benefits and access to low-cost funding would sustain confidence across segments, including luxury and mixed-use developments, she said. Kedia-Agarwal pointed to strong demand from NRIs and high-end buyers, adding that clarity on taxation, repatriation norms, and investment regulations would further support this segment. Faster infrastructure execution, GST rationalisation, and incentives for green development would enable delivery of high-quality urban assets, she added.
Gaurav Varma, Director, ORA Group, said strengthening tax incentives and access to cost-efficient funding would help sustain healthy end-user demand. He noted rising interest in plotted developments and second homes, driven by infrastructure improvements and work-from-anywhere trends, alongside strong traction in luxury housing and redevelopment-led projects. Fast-tracking metro corridors and arterial networks, along with GST rationalisation and faster approvals, would unlock new micro-markets and enhance livability, he said.
Dhruman Shah, Promoter, Ariha Group, said the Budget should focus on improving project viability, streamlining approvals, and enhancing affordability. Strengthening homebuyer tax incentives and access to long-term funding would sustain demand across segments, including premium and luxury housing, he said. Shah added that redevelopment has been critical in upgrading ageing urban infrastructure, and faster clearances, GST rationalisation, and incentives for sustainable development would ease execution challenges and support delivery of globally benchmarked residential assets.
