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India Today
22-05-2025
- Business
- India Today
How new Maharashtra housing policy will bridge urban-home supply deficit
Maharashtra's new state housing policy, which targets the construction of 3.5 million affordable homes by 2030 at an investment of Rs 70,000 crore, has been hailed by experts as a big step towards addressing the housing shortage in the state, especially Mumbai, improving the urban landscape, and creating large-scale employment. The policy was approved by the state cabinet on May 20.'The state housing policy is a visionary move that aligns with Maharashtra's aspirations to cement its position as India's economic powerhouse,' says Niranjan Hiranandani, chairman of the Hiranandani comprehensive plan, with strategic emphasis on rental housing for working women, students and industrial workers, is a transformative step towards addressing the urgent need for affordable urban housing, Hiranandani such as the walk-to-work model near employment hubs, supported by robust multi-modal infrastructure and last-mile connectivity, will catalyse 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,' Hiranandani added. As per the policy, homes will be constructed for economically-weaker sections and lower-income group categories under the 'Majhe Ghar-Majhe Adhikar' policy. Describing the policy as a 'game-changer', deputy chief minister Eknath Shinde, who also serves as the housing minister, said the initiative will push Maharashtra's goal of becoming a $1 trillion economy. advertisement'This policy aims to provide affordable, sustainable and inclusive housing for the weaker sections of society, including senior citizens, working women, students, industrial workers, journalists, the differently-abled and ex-servicemen,' Shinde manage the data on housing demand-supply, the state will create a State Housing Information Portal, which will also manage geo-tagging of homes, funds distribution, land acquisition by district, and coordination with agencies such as MahaRERA (Maharashtra Real Estate Regulatory Authority), Mahabhulekh (Maharashtra Bhumi Abhilekh) and PM Gati Shakti, Shinde added. Maharashtra is India's most-important real-estate market. According to PropEquity, a data analytics firm, it was the leader among the top 10 states for the period 2017-2024, with its 48,047 projects constituting 40 per cent of the total registered projects in these states. Next was Tamil Nadu (19,987 projects, 17 per cent share) followed by Gujarat (16,265 projects, 14 per cent share).The housing policy focuses on developing homes near employment centres, especially in industrial areas. Around 10-30 per cent of the land reserved for amenities in MIDC (Maharashtra Industrial Development Corporation) areas will be designated for residential use. All metropolitan region development authorities will be required to implement inclusive housing projects, Shinde said the introduction of self-redevelopment cells, a dedicated Rs 2,000 crore funding for redevelopment projects, and streamlined compliances will unlock redevelopment opportunities in land-constrained cities of the state and resolve stalled CSR (corporate social responsibility) utilisation and the Rs 20,000 crore MahaWas Niwas Nidhi fund signify a commitment to creating slum-free cities, ensuring social-housing projects and better living standards for citizens. Collaborative support from reputed knowledge partners, such as IITs, IIMs and urban research institutes, reinforces a sustainable, tech-enabled and future-ready development framework, said provisions such as IT-based monitoring, incentive FSI (floor space index) for rehab areas and enhanced legal safeguards, the policy fosters transparency, aims to accelerate project timelines, and boosts investor confidence. Inclusivity, affordability and resilience form the cornerstone of the policy, essential for driving Maharashtra's real-estate index upwards and ensuring long-term economic growth, Hiranandani added.'The new housing policy is a forward-looking initiative that addresses both the urban housing deficit and the needs of vulnerable segments of society,' said Shraddha Kedia-Agarwal, director, Transcon Developers. By setting a goal to build 3.5 million homes and enabling infrastructure through the MahaAwas Fund, the state government is laying a solid foundation for holistic growth, women-centric housing planning and improved livability across Maharashtra, she to India Today Magazine
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.'
Time of India
20-05-2025
- Business
- Time of India
‘Vertical slums' of early yrs of SRA scheme to be rebuilt: CM
Mumbai: All slum rehabilitation buildings constructed in the initial years of the slum redevelopment scheme, which have now become vertical slums , will be redeveloped, announced chief minister Devendra Fadnavis . He said the govt will adopt the cluster redevelopment scheme to redevelop multiple slums in the same ward through integrated planning. The slum redevelopment scheme promising free housing to slum dwellers was introduced in 1997 and so far 2.7 lakh units have been constructed. NITI Aayog's 'Developing Mumbai Metropolitan Region as an Economic Growth Hub, 2030' report envisages construction of 22 lakh housing units through slum rehabilitation schemes and another 10 lakh affordable housing units in MMR during the period. The Mahayuti cabinet on Tuesday approved the state housing policy, whose tagline is 'Mera Ghar, Mera Adhikar'. The state govt has set a target of building 35 lakh houses for economically weaker sections and low-income groups by 2030, for which an investment of Rs 70,000 crore is expected. As per NITI Aayog recommendations, a Rs 20,000 crore mega housing fund called Mahawas Niwas Nidhi will be set up to fund ambitious housing projects. Affordable rental housing schemes will be implemented through govt agencies like Mhada and Cidco. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo The new housing policy proposes the use of central govt land for slum rehabilitation projects. Under this, schemes for slum rehabilitation can be implemented in the form of a joint venture between the central govt and Slum Rehabilitation Authority (SRA). It also proposes to provide a corpus fund from the particular central govt department. Fadnavis said the new policy envisages housing for all sections of society, from senior citizens to working women, students and labourers. "There is provision for inclusive housing, affordable housing, rural and urban housing, redevelopment, self-redevelopment... all sections of society have been kept in mind while framing the policy. All housing schemes and beneficiaries will be brought on a single portal (State Housing Information Portal), which will ensure transparency so everyone benefits," he said. Valsa Nair-Singh, additional chief secretary, housing, said a housing requirement and demand survey analysis will be done by 2026. The target is to construct ten lakh houses in the next 10 years. "The policy is structured around four guidelines: Affordable, inclusive, sustainable and resilient housing to meet economic, social, environmental and disaster-related challenges. Use of corporate social responsibility funds for social housing will be encouraged, as will public-private partnerships and incentives for developers and operators," she said. To make govt land available for housing, a survey of land owned by revenue and forest departments, MSRDC, MIDC, regional planning authority, water resources department and others will be conducted, and a statewide land bank created. Nair-Singh said the land bank will be developed by 2026 for creating new houses.
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."
India Gazette
20-05-2025
- Politics
- India Gazette
"These people are speaking the language of Pakistan": Eknath Shinde on Congress leader Kharge's 'small war' remarks
Mumbai (Maharashtra) [India], May 20 (ANI): Maharashtra Deputy CM Eknath Shinde on Tuesday criticised Congress President Mallikarjun Kharge's comment referring to Operation Sindoor as 'a small war', accusing the Congress party of speaking like Pakistan. He highlighted India's strong stance against Pakistan and criticised the Congress for its past silence on terror attacks, such as 26/11. While speaking at an event, Shinde said, '... When 26/11 attacks happened, not even a word was uttered by them... This time, India showed intolerance against Pakistan... Did they (Congress) show such will power?... These people are speaking the language of Pakistan...' This comes after Kharge, in a veiled jab at Operation Sindoor, said that the government is going 'chutput' (small) wars against Pakistan.'Now, in these chhutput yuddha (small wars) that have taken place here and there, Pakistan has been downplaying India at all levels, particularly with tacit support from China,' said Kharge while speaking at the Samarpane Sankalpa rally in Karnataka. Additionally, the dY cm announced the state's new housing policy, aiming to construct 35 lakh houses by 2030 with an investment of Rs 70,000 crore. This initiative targets various categories and classes, including slum development through cluster development. Speaking at an event, he added that the initiative would be inclusive, covering economically weaker sections, low-income groups, and working women. 'All sections of society-especially the economically weaker and low-income groups-have been included in this scheme,' Shinde said. These homes will be rented for the first 10 years, after which ownership will be transferred to the respective individuals. The state government has also developed an AI-based State Housing Information Portal to provide real-time information on housing availability and application status. This portal will help align housing demand and supply. People will know where houses are available and where they can apply, the deputy CM added. Slum rehabilitation is also a key part of the new housing policy. 'Slums will be redeveloped through cluster development. We will also bring back original Mumbai residents who moved out...,' Shinde assured. (ANI)
