The association of realtors CREDAI-MCHI has praised the Maharashtra government’s most recent budget, emphasising how it might greatly expand the real estate market. The budget, which places a high priority on affordable housing and infrastructure development, is anticipated to open up new growth prospects for developers in the Mumbai Metropolitan Region (MMR).
On March 10, Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar presented the state budget, unveiling a new industrial policy focused on attracting Rs 40 lakh crore in investment and generating 50 lakh jobs. As part of the region’s development strategy, Pawar also announced plans for a third airport near Vadhvan port in Palghar, reinforcing Mumbai’s position as a future USD 1.5 trillion economy by 2047.
Domnic Romell, president of CREDAI-MCHI, commended the budget’s focus on infrastructure, saying that MMR’s position as India’s economic powerhouse will be reinforced by investments in metro projects, multi-modal corridors, and enhanced connectivity. He added that by allocating Rs 8,100 crore for urban housing, the government is demonstrating its commitment to “Housing for All,” which will help the real estate market.
Dhaval Ajmera, Secretary of CREDAI-MCHI, emphasized that the budget’s focus on industrial growth, transportation, and streamlined policies will enhance stability and investor confidence in the real estate market. Similarly, CREDAI-MCHI Treasurer Nikunj Sanghvi highlighted the government’s prioritization of capital investment and innovative financing models like Maha InvITs as key drivers for long-term economic stability.
CREDAI-MCHI, which has more than 1,800 developers as members, is still hopeful that these legislative initiatives can hasten the growth of Maharashtra’s infrastructure and real estate markets.
Source: Business Standers
