Real estate shares fell sharply through January 2026, with the Nifty Realty index down about 10% by January 21 as investors waited to see what the Union Budget would offer the sector, Business Standard reported on January 21, 2026. The index was retreating after two years of gains: 81.34% in 2023 and 34.39% in 2024, the newspaper said.
Signature Global led the losses
On January 12, shares of SignatureGlobal (India) Limited fell 7% to a 52-week low after the Gurugram-based developer said it was unlikely to meet its pre-sales guidance for 2025-26 because of soft demand, The Economic Times reported. The company said pre-sales declined in the December quarter, while average realisations and collections improved, the report said.
What developers asked for
Ahead of the Budget, developers called for single-window clearance, with approvals from several authorities combined on one digital platform. They also sought faster approval timelines and industry status for the sector, Moneycontrol reported on January 14, 2026.
Industry voices told Outlook Business in January 2026 that affordability had become the biggest challenge for urban housing, particularly for mid-income buyers. They said the current price caps for affordable housing no longer reflected conditions in Tier 1 cities such as Mumbai. The sector also called for tax relief and continued infrastructure spending to support homebuyers.
Mumbai's market in PropertyWala's data
The figures below are asking prices from listings, not transacted prices.
- Sale rates: PropertyWala listings show that flats in Mumbai are asking about ₹25,395 per sq ft (Q4 2025 to Q3 2026). That is 2.7% lower than the year before.
- Rents: Asking rents for flats are about ₹77 per sq ft per month over the same period, 17% lower than the year before.
- Price history: The yearly average asking rate for flats was ₹24,375 per sq ft in 2022, ₹21,500 in 2023, ₹24,469 in 2024 and ₹25,294 in 2025.
- What is listed: Apartments account for almost all of Mumbai's listings on PropertyWala. Office spaces, independent houses and shops make up the rest.
Under-construction projects on PropertyWala include:
- L&T Centrona in Ghatkopar East, with possession due in April 2027
- Raheja Antares in Kanjur Marg West
- Lodha Aureus in Sewri
What came next
Realty stocks rose by up to 15% after the Budget, Mint reported on February 9, 2026, citing allocations for affordable housing and infrastructure. However, developers are still pressing for faster approvals and changes to affordability rules, The Economic Times reported in September 2026.