Maharashtra to Unveil New Housing Policy Ahead of Assembly Elections
Deputy Chief Minister Devendra Fadnavis announces new housing policy to be released before upcoming elections
MaharashtraHousing PolicyDevendra FadnavisMhadaReal EstateReal Estate MaharashtraAug 29, 2024
The Maharashtra government has been working on a new housing policy aimed at making housing more affordable and accessible to all. The policy is expected to include measures such as increased transparency in property transactions, streamlined regulatory processes, and incentives for developers to build affordable housing.
The new policy is seen as a key initiative by the government to address the state's housing shortage and provide relief to homebuyers. Maharashtra has been facing a severe housing shortage, particularly in urban areas, which has led to skyrocketing property prices and rents.
The announcement of the new housing policy comes at a time when the state is gearing up for the Assembly elections. The government is likely to use the policy as a major election plank to woo voters, particularly in urban areas where housing is a major concern.
The Maharashtra Housing and Area Development Authority (MHADA) has also announced a price reduction of 10% to 25% on 370 apartments available through its Mumbai Board Lottery. The reduction applies to homes acquired through redevelopment projects under DCR 33(5), 33(7), and 58, making them more affordable for buyers.
MHADA has extended the deadline for online application submissions to September 19, 2024. Sanjeev Jaiswal (IAS), Vice President and CEO, MHADA stated, \
Frequently Asked Questions
What is the new housing policy announced by the Maharashtra government?
The new housing policy aims to make housing more affordable and accessible to all, with measures such as increased transparency in property transactions, streamlined regulatory processes, and incentives for developers to build affordable housing.
What is the price reduction announced by MHADA?
MHADA has announced a price reduction of 10% to 25% on 370 apartments available through its Mumbai Board Lottery.
What is the deadline for online application submissions for the MHADA lottery?
The deadline for online application submissions has been extended to September 19, 2024.
What is the 'Housing for All' scheme announced by the Maharashtra government?
The 'Housing for All' scheme aims to provide affordable housing to all citizens by 2025.
How many affordable houses does the Maharashtra government plan to build in the next few years?
The government plans to build over 1 million affordable houses across the state in the next few years.
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