NEW DELHI: Realtors’ body CREDAI-MCHI has said the Maharashtra government’s budget will give a significant boost to real estate sector because of huge allocation for infrastructure development and focus on affordable housing. CREDAI-MCHI, which is part of CREDAI, represents real estate developers in the Mumbai Metropolitan Region (MMR).
On March 10, Maharashtra Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, tabled the state budget in the legislative assembly and announced a new industrial policy, focussing on Rs 40 lakh crore investment and generation of 50 lakh jobs.
The Mumbai Metropolitan Region is being developed as a growth hub, and it will have a USD 1.5 trillion economy by 2047, Pawar said as he announced a third airport in the metropolis near the Vadhvan port in the neighbouring Palghar district.
CREDAI-MCHI President Domnic Romell said, “The Maharashtra state budget lays a strong foundation for economic growth through strategic investments in infrastructure and housing.”
The focus on urban development, including multi-modal corridors, metro projects, and improved connectivity, will propel the MMR as the economic powerhouse of India, he added.
“The allocation of Rs 8,100 crore for urban housing reaffirms the government’s commitment to ‘Housing for All,’ which will provide a significant boost to real estate development,” Romell said.
Dhaval Ajmera, Secretary, CREDAI-MCHI stated, “The budget’s emphasis on industrial development, transport infrastructure, and housing will unlock new opportunities for real estate and allied sectors.”
The government’s focus on streamlining policies, enhancing fiscal discipline, and ensuring timely project execution will bring greater stability and confidence to the sector, he added.
Nikunj Sanghvi, treasurer of CREDAI-MCHI, said, “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 like Maha InvITs will drive long-term economic stability, he added.
CREDAI-MCHI has more than 1,800 developers as members.
