Latest news with #HousingPolicy2025
Hindustan Times
3 days ago
- Business
- Hindustan Times
Maharashtra Housing Policy 2025 formally approved: 5 things you should know
The Maharashtra government has recently formalised the Maharashtra Housing Policy 2025, titled My House, My Right, with a vision to ensure affordable and adequate housing for all citizens. The Maharashtra government has recently formalised the Maharashtra Housing Policy 2025, titled My House, My Right, with a vision to ensure affordable and adequate housing for all citizens. (Picture for representational purposes only)(Pixabay) The policy outlines key goals, such as redeveloping old buildings, rehabilitating slum dwellers, and revitalising stalled real estate and slum redevelopment projects through public-private partnerships. A significant initiative under the policy is the creation of a dedicated land bank for residential use by 2026, aimed at streamlining housing development across the state. In a notable move to promote senior living housing, the government has introduced a game-changing incentive, a dramatic reduction in stamp duty to a flat rate of just ₹1,000. This is expected to make retirement housing more accessible and attract greater private sector participation in the segment. The Maharashtra government's cabinet approved the new Maharashtra Housing Policy 2025 in May 2025; however, on July 23, the Maharashtra Housing Department issued a Government Resolution (GR) on the policy, which is considered to be one step further towards its implementation in the state. Here are five things to know about the Maharashtra Housing Policy 2025. 1) Investment of ₹ 70,000 crore expected under the Maharashtra Housing Policy 2025 The government expects an investment of ₹70,000 crore during the policy's implementation. Its target is to generate 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. 2) Revival of stalled projects The Maharashtra government's 2025 housing policy includes targeted measures to revive stalled real estate and slum redevelopment projects, particularly using a cluster redevelopment model for greater efficiency and scale. Also Read: Maharashtra approves new housing policy after nearly two decades: 5 key highlights 3) Stamp duty relaxations for senior living housing The Maharashtra government's newly finalised Housing Policy 2025 introduces a game-changing incentive for senior living housing: stamp duty has been dramatically reduced to a flat ₹1,000, replacing the previous slab of 5–7% of property value depending on location. The move aims to make retirement homes more affordable and accelerate development in this underserved segment. Also Read: Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000 4) Push for self-redevelopment of old buildings The Maharashtra government has strongly pushed 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. 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. 5) Affordable housing survey As part of its Maharashtra Housing Policy 2025, the Maharashtra government 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. Also Read: Maharashtra Housing Policy 2025: Statewide survey proposed to assess housing demand in post-COVID-19 era According to the policy, a detailed housing need survey and analysis will be carried out across all state districts and is targeted for completion by 2026. This will enable a district-wise understanding of housing demand.
Hans India
23-07-2025
- 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
23-07-2025
- 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.
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.
News18
29-05-2025
- Business
- News18
Maharashtra Housing Policy 2025: Rent-To-Own, Walk-To-Work Vision Makes Housing A Right, Say Experts
Last Updated: The Maharashtra government has approved the Housing Policy 2025, aiming for 35 lakh affordable homes by 2030, focusing on EWS, LIG housing, slum redevelopment, and rental housing. Maharashtra Housing Policy 2025. In a landmark decision set to reshape the urban housing landscape, the Maharashtra government has approved the Maharashtra Housing Policy 2025, aimed at providing housing for all while ensuring sustainable and inclusive urban development. The policy lays out a comprehensive roadmap to tackle the challenges of affordability, slum rehabilitation, rental housing, and planned urban growth across the state. What is the Maharashtra Housing Policy 2025? The Maharashtra Housing Policy 2025 is a state-wide housing blueprint that envisions creating 35 lakh affordable homes by 2030, especially targeting Economically Weaker Sections (EWS) and Low-Income Groups (LIG). It seeks to achieve this through a combination of public-private partnerships, rental housing models, redevelopment of slums and chawls, and innovative ownership schemes like rent-to-own and self-redevelopment. It promotes the 'Majhe Ghar, Majha Adhikar' (My Home, My Right) initiative and aims to make housing more accessible, while reducing the pressure on city infrastructure by encouraging housing near industrial zones, thereby supporting the 'Walk to Work' concept. The policy also includes fast-track approvals for housing projects, land pooling mechanisms, promotion of green construction for climate action, and the creation of a centralised digital housing portal to enhance transparency and streamline processes for developers and homebuyers. 'Policy Sends Message That Housing Is Not A Luxury, It's A Right': Industry Players Real estate leaders have widely welcomed the policy, saying that the policy sends a clear message that housing is not a luxury, it's a right. Anuj Goradia, director at Dosti Realty, called the move remarkable, and said the blueprint addresses both sustainability and affordability. 'The new housing policy will be a progressive step towards affordable housing and will endow a significant boost to the sector by not only creating enormous employment opportunities but also bring in a win-win situation that can further ensure elevated living for the city dwellers across all the income groups," he said. He also highlighted how the policy promotes residential development around industrial zones, further enabling the 'Walk to Work' concept. 'One cannot ignore the inclusivity of this policy that promotes redevelopment of unplanned projects like slums, chawls, vertical slums, etc. We definitely look at this policy as an extremely transformational move for the state and a remarkable approach to housing that is futuristic and will boost investor confidence," he added. Nayan A Shah, chairman and managing director of Mayfair Housing, said the policy reflects a significant shift in recognizing housing as a right. 'The new Maharashtra Housing Policy 2025 is a much-needed shift towards making homeownership a reality for lakhs of families across the state. With its focus on affordable housing, rental stock, and slum rehabilitation, the policy sends a clear message that housing is not a luxury, it's a right." Shah emphasised how the policy can help fast-track development in upcoming regions like Virar. 'With this policy encouraging faster approvals, land pooling, and private participation, we see great potential to accelerate the delivery of quality homes for the aspiring middle class and working families." Jash Panchamia, promoter of Suraksha Smart City, praised the 'Majhe Ghar, Majha Adhikar' initiative and the focus on closing the housing gap. 'It addresses the urgent housing needs of the EWS and LIG housing needs while promoting solutions like self-redevelopment and rent-to-own models that are set to bridge the housing gap while paving the way for sustainable urban growth across the state." He also welcomed the digital and green measures in the policy. 'The integration of new-age technology using green practices for climate action are steps that will ensure responsible and future-ready construction. The proposed centralised digital housing portal will instil transparency and promote ease of doing business thus streamlining the system for developers and homebuyers alike." Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : real estate Location : New Delhi, India, India First Published: May 29, 2025, 13:01 IST News business » real-estate Maharashtra Housing Policy 2025: Rent-To-Own, Walk-To-Work Vision Makes Housing A Right, Say Experts
