Maharashtra Cabinet Approves Ambitious 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.'
The policy includes a strong 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.
Niranjan Hiranandani, chairman, NAREDCO & 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 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.'
