Latest news with #2025HousingPolicy
Hindustan Times
16-06-2025
- Business
- Hindustan Times
Maharashtra Housing Policy 2025: Statewide survey proposed to assess housing demand in post-COVID-19 era
The Maharashtra government, as part of its Maharashtra Housing Policy 2025, has proposed a housing demand survey across all districts to assess the current requirements. The government noted that post-COVID-19, housing needs and consumption patterns have changed drastically, making it essential to update the policy framework. According to the policy, a detailed housing need survey and analysis will be carried out across all districts of the state and is targeted for completion by 2026. This will enable a district-wise understanding of housing demand. "These surveys will focus on understanding existing housing conditions, socio-economic profiles, and access to basic infrastructure and services. The collected data will serve as the foundation for policy formulation, resource allocation, and prioritisation of housing projects to address diverse regional and demographic needs effectively," the policy reads. The policy highlights that a core component of the survey will be a comprehensive demand analysis aimed at capturing both current and projected housing needs across various income groups and geographic areas. Also Read: Maharashtra Cabinet approves Housing Policy 2025, targets 35 lakh affordable homes by 2030 It will take into account factors such as migration trends, rental housing dynamics, and the demand for affordable, rental, and special category housing. This data-driven approach, the policy states, will help the state align its housing supply strategies with actual ground-level demand, enabling more targeted and effective planning. The policy emphasises a need-based survey approach to ensure inclusive and equitable housing solutions across Maharashtra. As per the approved framework, the survey will assess housing requirements across different income groups, with a special focus on vulnerable populations such as economically weaker sections (EWS), low-income groups (LIG), working women, senior citizens, students, and persons with disabilities. Also Read: Maharashtra approves new housing policy after nearly two decades: 5 key highlights The Maharashtra government has also decided to conduct a district-wise survey of government land banks by March 2026 to identify land for public housing projects. The Maharashtra cabinet on May 22 approved the state's much-awaited 2025 Housing Policy, aiming to construct 35 lakh affordable homes by 2030. With an investment outlay of ₹70,000 crore, the policy outlines a comprehensive plan to support homebuyers, developers, and other stakeholders across the housing ecosystem. Also Read: Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000 The Maharashtra government has also given incentives for senior living housing projects. Under the new policy, stamp duty for buyers of such properties has been reduced to a flat ₹1,000, down from the current 5% to 7% of the property's value, depending on the location.
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Maharashtra approves new housing policy after nearly two decades: 5 key highlights
The Maharashtra cabinet has approved the state's much-awaited 2025 Housing Policy, aiming to construct 35 lakh affordable homes by 2030. With an investment outlay of ₹70,000 crore, the policy outlines a comprehensive plan to support homebuyers, developers, and other stakeholders across the housing ecosystem. Here are five key takeaways from the newly announced policy: The new policy—Majhe Ghar, Majha Adhikar (My Home, My Right)—marks Maharashtra's first major housing policy update since 2007. Despite several draft proposals over the years, no policy was finalised until now. Officials said the update was long overdue, especially in light of the evolving housing needs post-COVID-19. 'This roadmap was essential because the world has changed significantly, and housing demands have shifted,' Valsa Nair Singh, additional chief secretary, housing department, told reporters. Also Read: Maharashtra Cabinet approves Housing Policy 2025, targets 35 lakh affordable homes by 2030 According to data from CREDAI-MCHI, the apex body of real estate developers, over 25,000 buildings across the Mumbai Metropolitan Region (MMR) are eligible for redevelopment, with an estimated project value of more than ₹30,000 crore. Recognising this massive potential, the Maharashtra government has given a strong push to self-redevelopment in its newly approved housing policy. To support the initiative, the state has allocated ₹2,000 crore and proposed the formation of a dedicated cell to assist cooperative housing societies. This cell will provide end-to-end support—including guidance on planning, funding, developer selection, and project execution—empowering societies to undertake redevelopment independently. The Maharashtra government has set an ambitious target of generating an affordable housing stock of 35 lakh units by 2030. Under the new policy, the government aims to create a land bank for residential use by 2026. This initiative will be implemented in coordination with the Revenue Department, Forest Department, Maharashtra State Road Development Corporation, Water Resources Department, and the Industries Department, among others. Real estate developers believe this initiative will significantly impact the future supply of affordable housing in a city like Mumbai, where the Maharashtra Housing and Area Development Authority (MHADA) currently offers only a limited number of affordable homes through its lottery scheme. Also Read: MHADA update: 96 buildings declared 'extremely dangerous' in South Mumbai, residents asked to move out before monsoon The new policy also seeks to boost slum rehabilitation by adopting a cluster redevelopment approach. To revive stalled real estate projects—including those involving slum rehabilitation—the Maharashtra government plans to introduce incentives under the cluster redevelopment scheme. Also Read: Donald Trump's 5% tax on remittances: Should NRIs fast-track real estate investments back home? The new housing policy backs the Prime Minister's 'walk-to-work' vision by promoting residential development near employment hubs, particularly in industrial zones. To support this, the policy mandates that 10% to 30% of land allocated for amenity plots in industrial areas be reserved for residential purposes. Additionally, the Maharashtra government has eased norms related to taxation, stamp duty, and Floor Space Index (FSI) for developers and homebuyers involved in senior living and student housing projects—whether for sale, purchase, or lease.
