Maharashtra’s ₹70,000 Crore Affordable Housing Push: A Game-Changer by 2030
The Maharashtra government plans to invest ₹70,000 crore to build 3.5 million affordable homes by 2030, focusing on the Mumbai Metropolitan Region and Pune. This initiative aims to address the growing disparity in housing affordability.
Affordable HousingMaharashtraReal EstateMumbai Metropolitan RegionPuneReal Estate MumbaiSep 26, 2025
The investment comes at a crucial time, as premium housing has surged from around 43 per cent to 59 per cent of total launches between 2022 and H1 2025, while affordable housing under ₹50 lakh has fallen from about 15 per cent to just 12 per cent. According to Karan Singh Sodi, senior managing director (Mumbai MMR and Gujarat) and head, alternatives, India, JLL, this trend highlights the need for strategic intervention.
The post-Covid housing surge has been significant, with combined annual sales in Mumbai and Pune nearly doubling from 46,528 units (2016–2019) to 1.05 lakh units (2022–H1 2025). Mumbai recorded around 28 per cent capital appreciation between 2019 and H1 2025, with peak growth of over 10 per cent in 2023, while Pune saw gains of about 20 per cent.
The decline in mass housing share in new launches underscores the necessity of strategic intervention, leading to the landmark affordable housing initiative. India’s leading metropolitan regions are witnessing a shift in urban development, with emerging affordable housing corridors becoming catalysts for sustainable, inclusive growth. Rather than being viewed as urban sprawl, peripheral expansion is being strategically leveraged by city planners to create well-planned, connected communities that can serve as engines of metropolitan growth.
The policy establishes a balanced incentive framework for stakeholders, providing developers with 2.5 floor space index (FSI) for senior housing, 15 per cent commercial FSI for student housing, and 1 per cent GST across all segments. This policy creates investment-grade opportunities in senior living, student housing, and rental markets while enabling financially viable brownfield redevelopment of Mumbai’s cessed buildings and slums to promote inclusive growth and revitalise stalled projects.
Prashant Sharma, president of Naredco Maharashtra, emphasized that the policy comes at a critical juncture when residential markets are experiencing unprecedented momentum yet facing structural challenges of affordability and inclusivity. The initiative aims to address these challenges and create a more balanced and inclusive housing market in Maharashtra by 2030.
Frequently Asked Questions
What is the total investment planned by the Maharashtra government for affordable housing?
The Maharashtra government plans to invest ₹70,000 crore to build 3.5 million affordable homes by 2030.
Which regions are the primary focus of this affordable housing initiative?
The primary focus of the initiative is on the Mumbai Metropolitan Region (MMR) and Pune.
What is the ‘My House, My Right’ program?
The ‘My House, My Right’ program is part of the Maharashtra Housing Policy 2025, aimed at providing affordable housing for economically weaker sections and low-income groups.
How has the housing market in Mumbai and Pune changed in recent years?
Premium housing has increased from 43 per cent to 59 per cent of total launches between 2022 and H1 2025, while affordable housing under ₹50 lakh has decreased from 15 per cent to 12 per cent.
What incentives are provided to developers under the new policy?
Developers are provided with 2.5 floor space index (FSI) for senior housing, 15 per cent commercial FSI for student housing, and 1 per cent GST across all segments.
Related News Articles
Luxury Redefined: Ceratec Group Unveils Presidential Towers in Ravet, Pune
Discover the epitome of luxury living with Ceratec Group's latest project, Presidential Towers, offering 2 and 3 BHK homes in the heart of Ravet, Pune.
Rexas Finance (RXS) Price Forecast: Will It Be a Top Performer in 2025?
Rexas Finance (RXS) is making waves in the financial sector with its innovative approach to asset management. From real estate to art and goods, RXS offers a user-friendly interface for seamless asset trading and management. This article explores the pote
Government Hikes: Ordinary Citizens Bear the Brunt in Karnataka
With a series of tax and price hikes, the Karnataka government is placing a significant financial burden on ordinary citizens. From fuel and liquor to milk and water, the costs are rising, while the government contemplates more increases in property tax,
Port Sector Development: Key Focus in My Third Term, Vadhavan Port Underway
In a significant push towards infrastructure development, the port sector has emerged as a key focus area in my third term. The work on the Vadhavan port has already begun, marking a crucial milestone in this initiative.
Women Lead the Charge in India's Real Estate Market
Women investors are increasingly making their mark in both residential and commercial real estate in India, shattering traditional gender barriers and driving market growth.
Housing Loans Reach ₹33.53 Trillion in Q2FY25: NHB
The National Housing Bank (NHB) reports that housing loans outstanding have reached ₹33.53 trillion in the second quarter of FY25, signaling a promising outlook for the housing sector.