Real Estate

Hiranandani Urges Rental Housing Push for Maharashtra

By GeoSquare News Desk · Published 2026-11-02

Real estate industry veteran Niranjan Hiranandani has called for a collaborative approach to address Maharashtra's affordable housing crisis. He proposes that companies, banks, and philanthropic trusts such as the Tata Trusts step in to develop rental housing projects across the state.

The Affordable Housing Gap

Maharashtra, particularly its urban centres like Mumbai, Pune, and Nashik, faces a severe shortage of affordable homes. Sky-high property prices and limited land availability have pushed homeownership beyond the reach of many middle- and lower-income families, making rental housing a critical alternative.

A Rental-First Approach

Hiranandani suggests that institutional players—corporates, financial institutions, and trusts—can pool resources to build large-scale rental housing. These projects could offer quality living spaces at reasonable rents, easing the pressure on both the housing market and the workforce.

Such an initiative would not only provide immediate shelter but also create a stable rental ecosystem, benefiting migrants, young professionals, and daily-wage earners who often struggle to find affordable accommodation in Maharashtra's metros.

However, experts note that land availability, clear rental policies, and attractive returns are essential to draw institutional investment. With the right framework, this model could significantly reduce the state's housing deficit and support inclusive urban growth.