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.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora