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Time of India
5 days ago
- Business
- Time of India
Maharashtra housing policy aims to provide houses for all and make state slum-free
MUMBAI , Providing affordable and adequate housing for all residents, redeveloping old buildings, and transforming slums through public-private partnerships are key components of the Maharashtra government's new housing policy "My House, My Right". A Government Resolution on the policy, approved by the state cabinet in May, was issued by the Housing Department on Wednesday. The government expects an investment of Rs 70,000 crore during the implementation of the policy. With its focus on "Housing for All", the policy aims to achieve a slum-free state by emphasising economically weaker sections, lower income and middle income segments. The government proposes to construct 35 lakh houses over the next five years, with the ultimate target to build 50 lakh houses over ten years. The policy proposes a comprehensive and statewide survey to assess the current and future housing needs. The survey, expected to be completed by 2026, forms a key part of the policy framework, the GR stated. The policy aims to conduct a comprehensive slum rehabilitation and redevelopment programme, redeveloping old buildings to improve living conditions, optimising land use and transforming slums through public-private partnerships. "It promotes inclusive housing by capturing resources created by the private market, integrated townships that offer affordable housing with essential services, and industrial workers' housing to ensure proximity to workplaces. The low-income groups, senior citizens, women, industrial workers and students will be given a priority in the policy", the GR stated. It stated that the government plans to increase the size of MahaAwas Fund to Rs 20,000 crore. "The ultimate target is to build 50 lakh houses in the next 10 years. To achieve this target, existing provisions under the Development Control and Promotion Regulations and Unified Development Control and Promotion Regulations and relevant institutional frameworks will be strengthened and modified as needed", it said. The GR stated that the State Housing Information Portal (SHIP) will soon be developed to provide information on housing development through government and private sector partnerships, developers, and state-run undertakings. It said the affordable housing has been given the infrastructure status, which will enable developers to avail external commercial Borrowing (ECB) and FDI for their projects. The affordable housing sector is also eligible for Priority Sector Lending (PSL) from banks and HFCs. Under the "Walk to Work" concept, around 10 to 30 per cent of land should be reserved for housing in MIDC (Maharashtra Industrial Development Corporation) areas. "Such land should be handed over to the appropriate authority at the applicable acquisition price, so that authority can create adequate housing stock in such areas. The authority can also partner with the private industries to provide housing for industrial workers in a PPP model", it said. The policy proposes to reserve 10 per cent to 15 per cent of the land suitable for housing projects adjacent to the ambitious infrastructure projects (Samruddhi Expressway and Delhi-Mumbai Industrial Corridor). Green building initiatives will be undertaken to promote sustainable development through eco-friendly practices and certifications. To ensure inclusive development, the policy will address affordable housing for other vulnerable groups, such as senior citizens, working women, students, Project Affected Persons (PAPs) and migrant workers. Amid burgeoning challenges due to climate change, the policy advocates construction of resilient and adaptable houses. The policy proposes a slew of incentives including single-window clearance, one per cent GST, floor space index (FSI) up to 2.5 per cent, commercial use permitted up to 10 per cent of utilised FSI, concession in development changes, waiver of registration and stamp duty charges to the operators, reduced property tax for the first ten years of operation and 100 per cent deduction on the profit of operating student housing. It stated that slum rehabilitation schemes on public land can be implemented in a joint venture by setting up a Special Purpose Vehicle (SPV) and adopting the Dharavi model of 20:80 redevelopment. For this purpose, the initiative will require the Slum Rehabilitation Authority (SRA) to set up a special purpose company in which the SRA should hold a 20 per cent stake with voting rights. The GR stated that the planned survey to assess current and future housing needs across all districts will serve as the foundation for future policy-making, enabling data-driven decisions on housing development, resource allocation, and prioritisation of infrastructure. The exercise will include assessment of the existing housing stock, socio-economic profiles of households, and the availability of basic infrastructure and civic amenities. A major focus of the survey will be the detailed analysis of housing demand. The government aims to capture demands across various income groups and geographical areas. The policy will also facilitate a comprehensive land bank database to identify government-owned land parcels suitable for residential use. A survey will identify and verify government and semi-government land available for construction. The data will be compiled into a district-wise digital land bank. The SHIP portal will also facilitate coordination between state and Central departments, including the PM Gati Shakti initiative, urban local bodies, and infra agencies.
Hans India
6 days ago
- Business
- Hans India
Maha housing policy sets ambitious target of construction of 35 lakh houses
Mumbai: In a serious bid to pursue its vision of 'My House, My Right', by 2030, the Maharashtra government on Wednesday released a government resolution on the Housing Policy 2025. The government, which expects an investment of Rs 70,000 crore during the implementation of this ambitious housing policy, proposes to construct 35 lakh houses in five years. Further, the government plans to increase the size of MahaAwas Fund to Rs 20,000 crore. The ultimate target is to build 50 lakh houses in the next 10 years. To achieve this ambitious target, existing provisions under the Development Control and Promotion Regulations/Unified Development Control and Promotion Regulations and relevant institutional frameworks will be strengthened and modified as needed. Additionally, active participation from the private sector will be promoted through a range of incentive-based measures. The government proposes to carry out a comprehensive programme for slum rehabilitation and redevelopment. The specific needs of low-income earners, senior citizens, women, industrial workers and students will be given priority consideration in the policy. The district land banks of the government and semi-government lands will be created. The state-level portal will soon be developed for providing information on housing development through government-private sector partnership, through developers and also through state-run undertakings. The policy, which focuses on housing for all, also aims to achieve a slum-free state by laying emphasis on the economically weaker sections (EWS), lower income group (LIG) and middle income group (MIG) segments of the policy. The policy proposes affordable housing initiatives, redevelopment of old buildings to improve living conditions and optimise land use and transforming slums through public-private partnerships. It promotes inclusive housing by capturing resources created by the private market, integrated townships that offer affordable housing with essential services, and industrial workers' housing to ensure proximity to workplaces. Affordable housing has been given infrastructure status. This enables the developers to avail of External Commercial Borrowing (ECB), Foreign Direct Investment (FDI) for their projects. It is also a sector eligible for Priority Sector Lending (PSL) from Banks and HFCs. On the concept of Walk to Work, around 10 per cent to 30 per cent land should be reserved for housing in MIDC (Maharashtra Industrial Development Corporation) areas. Such land should be handed over to the appropriate authority at the applicable acquisition price, so that authority can create an adequate housing stock in such areas. The authority can also partner with the private industries to provide housing for industrial workers in a PPP model. The policy proposes to reserve 10 per cent to 15 per cent of the land suitable for housing projects adjacent to the ambitious infrastructure projects (adjacent to Samruddhi Highway, Delhi Mumbai Industrial Corridor). The policy focuses on green building initiatives to promote sustainable development through eco-friendly practices and certifications. To ensure inclusive development, the policy also attempts to address affordable housing for other vulnerable groups such as senior citizens, working women, students, Project Affected Persons (PAPs) and migrant workers. Senior citizen housing addresses unique safety and accessibility needs, and community support, and housing for students and working women ensures safety and affordability. Project-Affected Persons (PAP) housing provides solutions for those displaced by development projects. Affordable rental housing schemes cater to transient populations, including migrant workers and students. Affordable Rental Housing Complexes (ARHC) scheme under PMAY and rental housing projects under other state schemes will be leveraged to provide rental housing for migrant industrial workers. Amid burgeoning challenges due to climate change, the policy advocates the construction of resilient housing towards climate change mitigation and adaptation. Such housing is designed to minimise damage, reduce vulnerability and reduce the impacts of adverse weather conditions. The policy proposes a slew of incentives including single window clearance, 1 per cent GST, floor space index (FSI) up to 2.5 per cent, commercial use permitted up to 10 per cent of utilised FSI, concession in development changes, waiver of Registration and Stamp Duty charges to the operators, reduced Property Tax for first ten years of operation and 100 per cent deduction on the profit of operating student housing. In case of slum rehabilitation schemes on public land, the slum rehabilitation schemes can be implemented in a Joint Venture (JV) by setting up a Special Purpose Vehicle (SPV) and adopting the Dharavi model of 20:80. For this purpose, the initiative will require the Slum Rehabilitation Authority (SRA) to set up a special purpose company in which the SRA should hold a 20 per cent stake with voting rights. In order to promote adoption of new and innovative construction technologies and cost-effective, environment-friendly, locally available and disaster-resilient construction materials, the government has offered sops including income tax deductions on expenses on innovative construction technology, reduced GST on materials and a technology innovation grant. In order to promote construction finance, the government proposes to set up state state-level distressed asset fund, an amnesty scheme and interest-free loans. In addition, a state-level constitution fund will be set up to support affordable housing and housing projects by public authorities, public-private partnerships, as well as projects by private developers.
Indian Express
6 days ago
- Business
- Indian Express
State releases Housing Policy 2025, targets to build 50 lakh houses in 10 years
In a bid to pursue its vision of 'My House, My Right' by 2030, the state government on Wednesday released a resolution on the Housing Policy 2025, for the implementation of which the government is expecting an investment of Rs 70,000 crore. According to the policy, the government proposes to carry out a comprehensive programme for slum rehabilitation and redevelopment. The specific needs of low-income earners, senior citizens, women, industrial workers and students will be given priority consideration in the policy. As part of the policy, the government proposes to construct 35 lakh houses in five years. Further, the government plans to increase the size of MahaAwas Fund to Rs 20,000 crore. 'The ultimate target is to build 50 lakh houses in the next 10 years…To achieve this ambitious target, existing provisions under the Development Control and Promotion Regulations/Unified Development Control and Promotion Regulations and relevant institutional frameworks will be strengthened and modified as needed. Additionally, active participation from the private sector will be promoted through a range of incentive-based measures,' the policy said. 'The state level portal will soon be developed for providing information on housing development through government private sector partnership, through developers and also through state-run undertakings,' it said. The policy, which focuses on housing for all, aims to be a slum-free state by laying emphasis on economically weaker sections (EWS), lower income group (LIG) and middle income group (MIG) segments of the policy. The policy proposes affordable housing initiatives, redevelopment of old buildings to improve living conditions, optimization of land use and transformation of slums through public-private partnerships. It promotes inclusive housing by capturing resources created by the private market, integrated townships that offer affordable housing with essential services, and industrial workers' housing to ensure proximity to workplaces. Affordable housing has been given infrastructure status. This enables the developers to avail external commercial borrowing (ECB) and foreign direct investment (FDI) for their projects. It is also a sector eligible for priority sector lending (PSL) from banks and HFCs. On the concept of Walk to Work, around 10 per cent to 30 per cent land will be reserved for housing in MIDC (Maharashtra Industrial Development Corporation) areas. Such land should be handed over to the appropriate authority at the applicable acquisition price, so that authority can create adequate housing stock in such areas. The authority can also partner with the private industries to provide housing for industrial workers in a public-private partnership model. The policy proposes to reserve 10per cent to 15per cent of the land suitable for housing projects adjacent to the ambitious infrastructure projects (such as Samruddhi highway, Delhi Mumbai Industrial Corridor). The policy focuses on green building initiatives to promote sustainable development through eco-friendly practices and certifications. To ensure inclusive development, the policy also attempts to address affordable housing for other vulnerable groups such as senior citizens, working women, students, project affected persons (PAPs) and migrant workers. Amid burgeoning challenges due to climate change, the policy advocates construction of resilient housing towards climate change mitigation and adaptation. The policy proposes a slew of incentives including single window clearance, 1 per cent GST, floor space index (FSI) up to 2.5 per cent, commercial use permitted up to 10 per cent of utilised FSI, concession in development changes, waiver of registration and stamp duty charges to the operators, reduced property tax for the first 10 years of operation and 100% deduction on the profit of operating student housing. In case of slum rehabilitation schemes on public land, the slum rehabilitation schemes can be implemented in a joint venture by setting up a special purpose vehicle (SPV) and adopting the Dharavi model of 20:80. For this purpose, the initiative will require the Slum Rehabilitation Authority (SRA) to set up a special purpose company, in which the SRA should hold a 20 per cent stake with voting rights.
Time of India
20-05-2025
- Business
- Time of India
Maharashtra cabinet approves state housing policy 2025
NEW DELHI: The Maharashtra cabinet has approved the state housing policy 2025 titled 'Majhe Ghar – Majhe Adhikar' (My Home – My Rights) with an investment outlay of ₹70,000 crore. The policy aims to construct 35 lakh homes over the next five years. As part of the implementation strategy, the cabinet has cleared the formation of a ₹20,000 crore 'Maha Aawas Nidhi' at the state level to finance large-scale housing projects under the new policy framework. Prashant Sharma, president, NAREDCO Maharashtra said, "The focus on slum rehabilitation, redevelopment, and the creation of a MahaAwas Fund will be instrumental in addressing the housing shortage and improving the urban landscape. We believe this progressive policy will provide a significant boost to real estate, create large-scale employment, and ensure dignified living for citizens across income groups." Focus on redevelopment, self-redevelopment and social housing To address delays in redevelopment and quality control issues, the policy includes the formation of a state-level grievance redressal committee. The committee will mediate between stakeholders and monitor quality standards in line with redevelopment commitments. A dedicated self-redevelopment cell will also be set up to encourage cooperative housing societies to take up redevelopment independently. A ₹2,000 crore self-redevelopment fund will support such initiatives. The policy introduces a rent-to-own model where working women, students, and industrial workers can initially occupy homes on rent for up to 10 years, with the option to gain ownership thereafter. "This comprehensive plan, with strategic emphasis on rental housing for working women, students, and industrial workers, is a transformative step toward addressing the urgent need for affordable urban housing. Initiatives such as the walk-to-work model near employment hubs, supported by robust multi-modal infrastructure and last-mile connectivity, will catalyze industrial and commercial real estate, paving the way for an integrated urban development model. Over time, this will generate tremendous demand for residential real estate, including townships and cluster developments," said Niranjan Hiranandani , chairman, NAREDCO & Hiranandani Group. CSR funds will be mobilised to support social housing initiatives through public-private partnerships involving both developers and project enablers. The government will also establish a centralised digital platform — State Housing Information Portal (SHIP) — to support data-driven housing decisions and project tracking. Nishant Deshmukh, founder and managing partner, Sugee Group said, "With strategic funding and transparent implementation, this policy can unlock massive redevelopment opportunities in cities like Mumbai , while also ensuring social equity and improved quality of life."
