Mr. Mahek Modi, Whole-Time Director & CFO of Modis Navnirman Limited

We welcome the 2026–2027 Union Budget’s strong and sustained emphasis on urban infrastructure and capex-led growth. With a record-effective capital expenditure outlay of ₹17.14 lakh crore and continued prioritisation of urban development, the Budget reinforces the government’s commitment to transforming India’s metropolitan centres through better connectivity, upgraded civic systems and accelerated redevelopment. These investments significantly enhance the livability, accessibility and long-term value of urban assets.

The substantial increase in total transfers to states ₹25.43 lakh crore in FY27 provides crucial fiscal capacity for state and city governments to strengthen urban renewal efforts, particularly in larger cities where redevelopment of aging housing stock is urgent. This resource flow, combined with steady support for centrally sponsored urban schemes, will help cities like Mumbai address density challenges, modernise civic infrastructure and deliver well-integrated, sustainable real estate growth.

Overall, the Budget offers stronger policy continuity, fiscal visibility and long-term confidence for redevelopment-focused investments across India’s urban landscape.