Maharashtra Govt. Unveils Housing Policy 2025: 35 Lakh Affordable Homes by 2030
The Maharashtra Cabinet has recently approved the Housing Policy 2025, which sets an ambitious target of constructing 35 lakh affordable homes by 2030. This initiative, dubbed 'Majhe Ghar - Majhe Adhikar', is designed to benefit the economically weaker sections (EWS) and lower income groups (LIG) across the state. The policy is expected to attract a significant investment of Rs 70,000 crore, further bolstering the state's efforts in inclusive urban development.
A key highlight of the policy is the support for the self-redevelopment of ageing buildings. The government has allocated Rs 2,000 crore to a dedicated cell that will assist cooperative housing societies in planning, financing, selecting developers, and executing redevelopment projects independently. This move is expected to modernize and revitalize older residential areas, ensuring they meet contemporary living standards and safety norms.
The policy also introduces a groundbreaking rent-to-own model, which is particularly beneficial for working women, students, and industrial workers. Under this model, tenants can occupy homes for up to 10 years with the option to purchase them later. This innovative approach provides long-term housing stability and a pathway to homeownership, addressing the growing demand for affordable housing solutions.
Deputy Chief Minister and Housing Minister Eknath Shinde highlighted the importance of the policy in contributing to the Rs 20,000 crore viability gap fund recommended by NITI Aayog for the Mumbai Metropolitan Region’s G-Hub. The government's contribution through the Affordable Housing Fund is expected to boost investor confidence and attract more private sector participation. This, in turn, will enhance the overall development of the region and ensure that housing projects are financially viable and sustainable.
The Housing Policy 2025 is a comprehensive and forward-looking strategy that aims to bridge the housing gap and improve the quality of life for millions of residents in Maharashtra. By focusing on affordable housing, self-redevelopment, and innovative models like rent-to-own, the policy addresses the diverse needs of the population and sets a benchmark for other states to follow. The government's commitment to this initiative reflects its dedication to creating a more inclusive and equitable society, where every citizen has access to a safe and affordable home.
