Maharashtra Approves Ambitious State Housing Policy 2025
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 to construct 35 lakh homes over the next five years, focusing on redevelopment, self-redevelopment, and social housing.
Maharashtra Housing Policy 2025Real EstateMumbaiNiranjan HiranandaniRedevelopmentReal Estate MumbaiMay 20, 2025
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 of 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.'
The policy places a strong emphasis 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. This 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.
Niranjan Hiranandani, chairman of NAREDCO and the Hiranandani Group, said, '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.'
CSR funds will be mobilized to support social housing initiatives through public-private partnerships involving both developers and project enablers.
The government will also establish a centralized digital platform — State Housing Information Portal (SHIP) — to support data-driven housing decisions and project tracking.
Nishant Deshmukh, founder and managing partner of 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.'
Frequently Asked Questions
What is the Maharashtra State Housing Policy 2025?
The Maharashtra State Housing Policy 2025, titled ‘Majhe Ghar – Majhe Adhikar’ (My Home – My Rights), is a comprehensive policy aimed at constructing 35 lakh homes over the next five years with an investment outlay of ₹70,000 crore. It focuses on redevelopment, self-redevelopment, and social housing to address housing shortages and improve urban living conditions.
What is the 'Maha Aawas Nidhi'?
The 'Maha Aawas Nidhi' is a ₹20,000 crore fund established at the state level to finance large-scale housing projects under the Maharashtra State Housing Policy 2025. This fund will support the construction of affordable homes and improve urban development.
What is the rent-to-own model introduced in the policy?
The rent-to-own model allows working women, students, and industrial workers to initially occupy homes on rent for up to 10 years, with the option to gain ownership thereafter. This initiative aims to provide affordable housing and improve living conditions for these groups.
How will the policy address redevelopment and quality control issues?
The policy includes the formation of a state-level grievance redressal committee to 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.
What role will CSR funds play in the policy?
CSR funds will be mobilized to support social housing initiatives through public-private partnerships involving both developers and project enablers. This will help in addressing the housing shortage and improving the urban landscape in a sustainable manner.
Related News Articles
Unlocking $48 Billion in Indian Office Space: The Rise of Fractional Ownership
India's fractional ownership market is expected to exceed $5 billion by 2030
Budget 2024: Reviving Affordable Housing - A Sector in Crisis
The real estate sector is seeking 'high-impact' measures to revive affordable housing, including special schemes, tax breaks, and revised pricing definitions.
Can Urbanization and Nature Coexist? A New Vision for Cities
As cities expand, natural spaces are dwindling. But is it possible to create a symbiosis between urbanization and nature? We explore the possibilities.
Market Sentiment Remains Robust Amidst Fresh IPOs: Anand Tandon
Anand Tandon shares his insights on the current market sentiment, IPOs, and sectors to watch out for.
MahaRERA Orders Developers to Refund Buyers Amid Complaints Over Pending Home Sales
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken action against developers in Pune, a region heavily affected by pending home sales. MahaRERA has ordered developers to refund buyers to address the growing complaints.
Tayal Corp: Pioneering Architectural Excellence in Pune's Real Estate Market
Led by Ar. Sumit Tayal, Tayal Corp. is not just another real estate developer; it is a collective of thinkers, visionaries, and problem-solvers. Discover how this innovative company is transforming the landscape of Pune's real estate industry.