Latest news with #HousingPolicy2025
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
Hindustan Times
29-05-2025
- Business
- Hindustan Times
Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000
The Maharashtra government has finalised the Housing Policy 2025, introducing significant 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. In addition to the reduced stamp duty, the government will offer property tax concessions for owners of senior living homes. Developers of these projects will also benefit from various tax relaxations and enhanced Floor Space Index (FSI) allowances. This is Maharashtra's first comprehensive housing policy in nearly two decades. Announced last week, it addresses modern housing concepts such as senior citizen housing and student accommodation, aiming to promote inclusive and future-ready urban development. As part of the Maharashtra Housing Policy 2025, the state government plans to redevelop ageing and dilapidated old-age homes and orphanages located on government land. These facilities will be upgraded and integrated with senior citizen housing projects to better accommodate the growing elderly population. According to the policy, Maharashtra's elderly population accounted for around 10% of the total as per the 2011 Census, higher than the national average. This figure is projected to rise significantly, reaching 17% by 2036. The policy also highlights a shift in social structure, noting that joint families are increasingly giving way to nuclear households, creating a greater demand for independent senior living facilities. The government sees this redevelopment as a crucial step toward addressing the evolving housing and care needs of the elderly. Also Read: Maharashtra approves new housing policy after nearly two decades: 5 key highlights According to market sources, leading real estate developers such as Rustomjee Group and Dosti Realty are preparing to launch dedicated senior living housing projects in Maharashtra in the coming months. To promote this segment, the Maharashtra government, under its Unified Development Control and Promotion Regulations (UDCPR), has introduced a separate category for senior citizen housing or retirement homes. These guidelines are part of the recently announced Maharashtra Housing Policy 2025, which aims to foster inclusive and age-friendly urban development. These measures aim to attract private investment into the senior housing sector while ensuring that the needs of elderly residents are met through thoughtful planning and infrastructure. Also Read: Dharavi redevelopment project gets a push as master plan receives Maharashtra government's approval Real estate developers have welcomed the Maharashtra government's new housing policy, particularly the relaxations and incentives for senior and student housing. They see the move as a progressive step toward addressing the evolving housing needs of specific demographic groups while encouraging private sector participation in these emerging segments. 'Addressing the growing demand for elderly-friendly housing is the need of the hour, and the Maharashtra government's new housing policy has a special mention of this. These actions will help the growth of senior living projects by making development more viable and attractive. Our understanding is that these policy reforms will benefit senior living housing projects in Maharashtra and set a benchmark through thoughtfully designed and well-supported developments," said Anuj Goradia, director of Mumbai-based Dosti Realty. Also Read: Rustomjee Group plans to launch senior living and plotted development projects: Boman Irani The apex body of real estate developers, CREDAI-MCHI, has also welcomed the policy.
Hindustan Times
21-05-2025
- Business
- Hindustan Times
EOW arrests IPS officer's husband in ₹25-cr fraud case
Maharashtra's new Housing Policy 2025 aims to build 3.5 million affordable homes by 2030, targeting economically weaker sections. The policy introduces inclusive housing schemes, uses CSR funds, creates a digital platform, and supports the 'walk-to-work' concept with climate-resilient construction.
Hindustan Times
21-05-2025
- Business
- Hindustan Times
New policy focuses on affordable housing, inclusivity
MUMBAI: The cabinet on Tuesday announced the state's new Housing Policy 2025, focusing on affordable and inclusive housing. Titled 'Majhe Ghar – Majhe Adhikar', the policy aims to build 3.5 million homes for economically weaker sections (EWS) and low-income groups (LIGs) by 2030, and 5 million units in the next 10 years. This would involve an investment of ₹70,000 crore. The policy also introduces special measures for seniors, working women, students, journalists, differently abled individuals and industrial workers. Housing schemes are also proposed for government employees, ex-servicemen, freedom fighters, artists, mill and mathadi workers, as well as airport employees. These schemes will be implemented through public-private partnerships. For the first time, Corporate Social Responsibility (CSR) funds can be used by companies for affordable and social housing projects (for working women, senior citizens, student housing), and incentives will be offered. Deputy chief minister Eknath Shinde, who is also the state housing minister, said, 'There will be no dearth of homes due to this policy. It is an all-inclusive policy and we have thought about dabbawallahs, police housing, mill worker housing, etc. We will roll out affordable houses. We are also promoting the 'walk-to-work' concept based on PM Narendra Modi's suggestions.' Under the new policy, the government will create a State Housing Information Portal (SHIP), a centralised digital platform. The policy also includes the setting up of a government-owned land bank to achieve the state's affordable housing target. The state plans to create affordable housing near major hospitals in cities like Mumbai. These will be offered on rent to relatives of patients, on the lines of the Prime Minister Awas Yojana. The new housing policy supports the prime minister's 'walk-to-work' concept, underlining the development of housing close to employment hubs, especially in industrial areas. New constructions will be planned to deal with weather risks including heat, floods and earthquakes, bringing innovative and climate-appropriate construction practices into the mainstream. At present, the state has RERA and Maharashtra was first state to set up MahaRERA. Now a state-level Supreme Grievance Redressal Committee will be set up to monitor quality control, mediate with developers in respect of grievances of beneficiaries, and ensure timely completion of redevelopment projects under DCPR 2034 and the MHADA Act. A self-redevelopment cell will be set up at the state level and a fund of ₹2,000 crore will be established to facilitate these projects. On redevelopment projects in the Mumbai Metropolitan Region (MMR), officers of the state housing department said that to protect the rights of flat owners, and to avoid any obstacles to the rehabilitation process, it will be mandatory for the developer to enter into a tripartite agreement with the housing society and the planning authority/ government and semi-government land owner organisation concerned. The builder would also have to pay advance rent in an ESCROW account for the protection of residents. The new policy proposes the use of central government land for slum rehabilitation projects. These can be implemented as joint ventures between the central government and the Slum Rehabilitation Authority (SRA). This new housing policy encourages the use of IT-based approaches to increase transparency, real-time monitoring and accountability in SRA projects. These digital tools will simplify processes such as beneficiary determination, project status updating, and fund management, ensure efficient implementation and reduce delays or malpractices, pointed officers. In SRA projects, the agreement between slum dwellers and the developer will be prepared on stamp paper and registered at minimum stamp duty. This will protect the legal rights of slum dwellers. Reacting to the new policy, Dominic Romell, president of CREDAI – MCHI, said, 'Various officers of the housing department including additional chief secretary Valsa Nair Singh, MHADA chief Sanjeev Jaiswal and SRA CEO Mahendra Kalyankar have worked hard on this policy. Developers must use the opportunity to make the policy a success.' Prashant Sharma, president, NAREDCO Maharashtra, remarked, 'The new policy is a commendable step in realising the vision of housing for all in Maharashtra. The government has also clearly prioritised inclusive urban development. The focus on slum rehabilitation, redevelopment, and the creation of a MahaAwas Fund will help address the housing shortage. 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.'
Economic Times
20-05-2025
- Business
- Economic Times
Maharashtra Housing Policy aims to build 35 lakh EWS, low-income group homes by 2030
The government of Maharashtra has approved the new state Housing Policy 2025 that aims to construct 35 lakh homes by 2030 for the economically weaker section (EWS) and Low-Income Group (LIG) categories, with targeted interventions for various groups. ADVERTISEMENT The policy also aims to create a land bank of government-owned plots suitable for residential use and a centralized digital housing information portal. In addition to this, the policy emphasizes home development close to employment hubs, especially in industrial areas. It also proposes to set up a dedicated self-redevelopment cell to guide societies on planning, funding, developer selection, and execution. An initial fund of Rs 2,000 crore will be allocated for this initiative. The government, under this policy, has also proposed using central government land for slum rehabilitation.'The policy will transform urban development and housing in the state, while also drawing massive investments that will support Maharashtra's ambition of becoming a $1 trillion economy. This inclusive and sustainable policy will ensure affordable homes not just for the economically weaker sections but across all strata,' said Deputy Chief Minister and Housing Minister Eknath to him, the policy addresses the housing needs of senior citizens, working women, students, industrial workers, journalists, the differently abled, and ex-servicemen. ADVERTISEMENT The proposed centralized digital housing information portal will be developed using artificial intelligence (AI) to map demand and supply, geo-tag homes, monitor fund allocation, maintain a district-wise land bank, and integrate with systems like Maharashtra Real Estate Regulatory Authority (MahaRERA), MahaBhulekh, and PM Gati proposed land bank of government-owned plots suitable for residential use will be developed statewide by 2026 in coordination with departments such as Revenue, Forests, Water Resources, the Maharashtra State Road Development Corporation (MSRDC), and Maharashtra Industrial Development Corporation (MIDC). ADVERTISEMENT As part of the policy's emphasis on home development close to employment hubs, of the 20% reserved land in MIDC zones, 10–30% will be earmarked exclusively for housing. Inclusive housing is mandated not only for large municipal corporations with populations above 10 lakh but also for all metropolitan region development revive stalled SRA projects, cluster redevelopment will be promoted under the policy and capable new developers will be selected through fresh bidding to ensure timely execution and eliminate irregularities, Shinde added. ADVERTISEMENT 'The government of Maharashtra is taking decisive steps to strengthen urban housing, accelerate redevelopment, and ensure affordable homes for all. A key pillar of this initiative is cluster redevelopment, particularly in the Mumbai Metropolitan Region (MMR), Pune, and Thane, where aging buildings, fragmented land ownership, and inadequate infrastructure have made conventional redevelopment challenging,' Shinde had told ET in redevelopment projects will require tripartite agreements between the society, developer, and the government authority. It has made escrow accounts for advance rent and bank guarantees mandatory to protect the interest of residents. Affordable and social housing projects will receive support through corporate social responsibility (CSR) funding. And institutes like IIT, IIM, UDRI, and WRI will be appointed as knowledge partners. ADVERTISEMENT As per NITI Aayog's G-20 Urban Infrastructure Working Group (G-Hub) recommendations, Maharashtra needs to commit about Rs 20,000 crore as viability gap funding to boost investment in affordable and inclusive housing, Shinde policy promotes green building practices, environmentally friendly infrastructure, and emphasizes climate-resilient construction methods. Under the Global Housing Technology Challenge, innovative construction methods will be adopted to resist heat, floods, and earthquakes. The policy proposes using central government land for slum rehabilitation and joint efforts between the central government and the Slum Rehabilitation Authority will be undertaken, and central funds will be sought for the same. The policy incorporates IT-based systems for transparency, real-time monitoring, and accountability in SRA projects, enabling better beneficiary identification, project tracking, and fund management. (You can now subscribe to our Economic Times WhatsApp channel)
