Maharashtra's Real Estate Reforms: Driving Growth and Stability
Policy consistency and regulatory clarity will determine the pace of India’s next real estate cycle, industry leaders said at a major property conclave in Mumbai. They highlighted reforms in redevelopment, affordable housing, and digital land governance as critical enablers of long-term growth.
Speaking at the ETNow Realty Conclave & Awards 2026 (West Edition), senior executives from advisory firms and development companies underlined that real estate projects typically span several years from land acquisition to delivery. Any abrupt policy shifts, they noted, can disrupt capital flows, delay construction, and erode buyer confidence. Stable frameworks, by contrast, help attract institutional investment and lower financing risk.
Mumbai’s redevelopment pipeline emerged as a central theme. With thousands of buildings over five decades old, particularly in the island city and inner suburbs, cluster redevelopment and revised development control regulations are seen as significant opportunities. However, panellists pointed out that fragmented approvals, tenant negotiations, and infrastructure constraints often slow execution. The Development Control and Promotion Regulations (DCPR) 2034 were cited as a structural reform intended to rationalize floor space index norms and encourage urban renewal. Yet, developers argued that regulatory intent must be matched with time-bound, single-window clearances to unlock supply at scale. Delays not only inflate project costs but also restrict housing availability in land-scarce markets.
Affordable housing continues to pose a policy dilemma. While demand remains robust in lower and mid-income segments, rising land and construction costs challenge viability. Industry representatives called for targeted incentives, faster approvals, and infrastructure integration to make affordable projects financially sustainable. Transit-oriented development near metro corridors was highlighted as a potential solution to bridge affordability and accessibility. Transparency reforms under the Real Estate (Regulation and Development) Act, or RERA, were acknowledged as a positive step in restoring consumer trust. Market observers said stronger compliance mechanisms and data disclosure have improved accountability, though consistent enforcement across states remains essential.
Digital innovation also entered the discussion, particularly the potential of blockchain-based land records. Experts suggested that tamper-proof digital registries could reduce title disputes, accelerate due diligence, and improve lending efficiency. For urban India, where legacy land documentation remains complex, such technology could significantly cut transaction friction.
Infrastructure investment was identified as the backbone of real estate expansion. Major projects across the Mumbai Metropolitan Region, including metro extensions and coastal connectivity, are reshaping development corridors and enhancing land utilization potential.
As India pursues higher growth targets and urbanization accelerates, stakeholders agreed that predictable regulation, faster approvals, and technology-driven governance will be decisive. The coming decade, they said, will test whether reforms can translate into inclusive, climate-resilient, and investment-ready housing markets.
