By Mr Anuj Mehta, Director, Dhuleva Group
“The core fundamentals of Mumbai’s real estate market will be strengthened by Budget 2026–27 through the prioritisation of creating urban capacity for the long-term, as opposed to short-term measures. Continued increases in public capital expenditures alongside the implementation of the City Economic Regions framework will create greater infrastructure depth throughout the Mumbai Metropolitan Region and reinforce the demand for residential and commercial properties in well-located micro-markets. Likewise, the implementation of an Infrastructure Risk Guarantee Fund will significantly help real estate developers to reduce the risks associated with construction while also improving access to financing during that phase. Further, the creation of asset monetisation through dedicated REITs will confirm that the capital markets supporting property assets are maturing. NRI taxation clarifications and TDS considerations will make it easier for global investors to participate in the Mumbai real estate market and reaffirm that Mumbai is a stable long-term investment location.”
By Mr Cyrus Mody, Founder & C.E.O., Viceroy Properties
” Through Budget 2026-27, a capital-expenditure-driven growth strategy will be implemented. Public capital expenditure is expected to increase to ₹12.2 lakh crore, allowing for long-term execution certainty for the infrastructure pipeline in Mumbai. The focus on providing financing enhances the contribution of the City Economic Regions while enhancing both connectivity and depth of infrastructure across suburban growth nodes, thereby solidifying Mumbai’s position as the anchor of the larger Mumbai Metropolitan Region. In addition to providing greater clarity regarding capital markets, the government has introduced the infrastructure risk guarantee fund (IRGF) and has also accelerated asset recycling for Central Public Sector Enterprises (CPSE) real estate through dedicated real estate investment trusts (REITs). This signals an established and maturing capital markets framework to facilitate project viability in high-value urban markets, such as Mumbai. As an extension of this commitment to executing infrastructure projects, increasing regional connectivity and participation of institutional capital will contribute to Mumbai being regarded as a long-term, stable real estate investment location, primarily based on its fundamentals rather than on any short-term incentives.”
Mr Aakash Patel, Managing Director, Atul Projects
“Mumbai’s real estate market will benefit from infrastructure investment as part of India’s budget. Since FY2014-15, the public capital outlay has grown from ₹2 lakh crores to ₹11.2 lakh crore (as per the BE 2025-26) with a proposal of an additional ₹12.2 lakh crore for FY2026-27, establishing long-term certainty and confidence in the development of cities. The creation of the Infrastructure Risk Guarantee Fund will reduce the risk of building and financing properties. An additional benefit of the government’s reduction in TDS on NRI property sales will create liquidity to enable greater global investment in the Mumbai property market. Continued government support for the development of REITs and InVITs will help facilitate institutional investment in urban infrastructure and completion of projects will require accelerated processing and coordination to convert public sector funding into fast and efficient building processes and greater buyer confidence.”