Union Budget 2026 Real Estate Wishlists Decoded

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Murali Malayappan, Chairman & Managing Director, Shriram Properties Limited.

“With the Union Budget approaching, it is important for the government to place affordability at the core of its housing agenda. Currently, the affordable and mid-market segments that are the backbone of the residential real estate industry are increasingly moving out of reach for the common man leading to considerable societal imbalance. Strategic measures such as removing GST, restoring input tax credits, and eliminating stamp duty could lower apartment costs by up to Rs. 1,000 per sqft. The government can also look at stronger incentives for rental housing to address the impending housing crisis.  Additionally, we urge the government to reinstate input tax credits so developers can pass on the benefits directly to home buyers. We also request the central government to impress on the States to implement a uniform stamp duty structure across the country. In addition to this, a streamlined single-window approval process would further accelerate project timelines and reduce inefficiencies. By incorporating these measures, the government will not only fulfill the aspirations of millions of homebuyers but also earn significant revenue through a broadened taxpayer base. We eagerly look forward to an optimistic policy regime, which would include a positive sentiment among buyers through favorable taxation and infrastructure development in key cities.”

Overall, the real estate industry demands in Union Budget 2026 reflect a desire for balanced growth, one that supports homebuyers, empowers developers, and aligns with India’s broader urban development goals. If addressed thoughtfully, Budget 2026 could reinforce real estate as a stable economic pillar while enabling sustainable, long-term expansion across housing and infrastructure ecosystems.