Mr. Cyrus Mody, Founder & CEO, Viceroy Properties
“The upcoming Union Budget is expected to maintain consistent policies that drive further growth of luxury homes in India, especially in Mumbai, where there is increasing demand from High Net Worth Individuals (HNIs), affluent users, and end users who now invest between 25-30% of their disposable income into real estate as part of their wealth preservation strategy. The strong shift towards luxury homes being developed, as well as the increase in sales of ₹1 crore and above residential homes, which now represent over 50% of all sales by value across major metropolitan areas of India, indicates a fast-moving trend towards premium, low-density projects with unique features, cutting-edge design, and asset appreciation over time. Due to the concentration of high-value purchases of luxury homes in Mumbai, combined with ongoing demand from domestic HNIs and family offices, increasing public policy support, accelerated execution of infrastructure projects, and the development of incentives for sustainable methods of construction will generate further interest in high-value, durable luxury residential properties.”
Mr. Aakash Patel, Managing Director, Atul Projects
“Mumbai Housing continues to grow under Redevelopment, as approximately 30% of Mumbai’s new annual residential supply comes from Redevelopment. The introduction of progressive reforms such as RERA has increased the transparency of Real Estate in India and increased the confidence of buyers, resulting in a much more developed and resilient Real Estate Ecosystem. Ongoing investment into Metro and Road Infrastructure, along with their resulting connectivity, enhanced liveability, and healthy appreciation into many micro-markets in Mumbai, supports the overall continued growth of Mumbai’s property market. Over the last several years, Mumbai has consistently recorded property registrations of over 1.2 lakhs every year; thereby, any further step in rationalising Stamp Duty and Registration Surcharges will create greater demand and increase affordability. The ongoing Incentive Program for Women Homebuyers in Mumbai has also proven successful in increasing footfall from end users. The Union Budget must be growth-oriented and focused on Urban Renewal, Infrastructure Development, and Regulatory Stability, which will lead to more efficient and future-ready Redevelopment throughout Mumbai.”
Mr. Anuj Mehta, Director, Dhuleva Group,
“In mature, land-scarce urban markets, granting industry status to real estate would be a significant enabler. It would improve access to structured, long-term financing for redevelopment-led projects, which are inherently capital-intensive and require higher compliance and execution certainty. Lower borrowing costs and clearer institutional frameworks would attract greater participation from banks and institutional investors. As risk perception reduces, more capital is likely to flow into the sector, supporting timely execution, improved construction quality and sustainable urban renewal in established city micro-markets.”
Mr. Hemant Bhavsar, Group CFO, Unitile“India’s sustained growth in commercial real estate underlines the urgent need for policy support in the creation of future-ready workplace infrastructure. Office leasing activity in 2025 crossed over 120 million sq. ft., driven largely by GCCs, BFSI, and technology firms that continue to invest in long-term office infrastructure even as they transition to hybrid working models focused on collaboration, flexibility, and workplace quality.
Interior works today account for nearly 30–40% of total commercial project costs. Continued GST rationalisation and tax deduction benefits will therefore be critical in enabling enterprises to invest in high-performance, compliant workplaces. We are also seeing a clear shift toward energy-efficient and green-certified offices, aligned with corporate ESG goals and India’s broader sustainability agenda.
From a sectoral standpoint, the Union Budget presents an opportunity to accord infrastructure status to specialised components such as Raised Access Flooring for data centres and advanced ceiling systems. Such a move would unlock long-term financing at lower costs and significantly support large-scale, capital-intensive projects in mission-critical environments.
Looking ahead, modular construction using steel and aluminium will play a key role in improving project delivery timelines by 15–20% while enhancing lifecycle efficiency. With India’s commitment to achieving Net Zero emissions, the 2026 Budget is expected to further accelerate the adoption of sustainable, modular, and recyclable materials. Increased focus on acoustics, wellness, and productivity will define workplace design in 2026 as organisations prioritise performance-led, compliant, and future-ready infrastructure.”