The Maharashtra government’s budget is ready to give a significant boost to the real estate sector, thanks to its substantial allocation towards infrastructure development and focus on affordable housing, according to CREDAI-MCHI.
CREDAI-MCHI, a leading body representing real estate developers in the Mumbai Metropolitan Region (MMR), believes the budget lays a strong foundation for economic growth. The focus on urban development, including multimodal corridors, metro projects, and improved connectivity, will propel the MMR as the economic powerhouse of India.
“The Maharashtra state budget has layed a strong foundation for economic growth through strategic investments in infrastructure and housing,” said Domnic Romell, President of CREDAI-MCHI.
The government’s commitment to ‘Housing for All’ is reaffirmed by the allocation of ₹8,100 crore for urban housing, which will provide a significant boost to real estate development.
Dhaval Ajmera, Secretary of CREDAI-MCHI, stated that the budget’s emphasis on industrial development, transport infrastructure, and housing will open new opportunities for real estate and allied sectors. Streamlining policies, enhancing fiscal discipline, and ensuring timely project execution will bring greater stability and confidence to the sector.
Nikunj Sanghvi, treasurer of CREDAI-MCHI, added that a budget that prioritizes capital investment and fiscal responsibility is always a win for real estate and infrastructure. The commitment to rural and urban housing, road connectivity, and financing through innovative models will drive long-term economic stability.
With over 1,800 developers as members, CREDAI-MCHI is optimistic about the future of real estate in Maharashtra, driven by the government’s proactive measures and strategic investments. The Mumbai Metropolitan Region is being developed as a growth hub, and it will have a USD 1.5 trillion economy by 2047. This includes the development of a third airport near the Wadhwan port in the neighboring Palghar district.
