Maharashtra's First Student Housing Project Takes Shape in Tardeo
The Maharashtra government has shortlisted a MHADA building in Tardeo for its first student housing project, offering studio apartments for rent. This is part of a new housing policy that focuses on student accommodation, senior citizen living, and afford
MaharashtraStudent HousingSenior Citizen HousingAffordable HousingReal EstateReal Estate MaharashtraSep 12, 2024
According to Valsa Nair Singh, additional chief secretary in the state housing department, the project is part of Maharashtra's new housing policy. The policy, which will be released soon, focuses on three main areas senior citizen living, student accommodation, and affordable housing.
The state government is currently looking for agencies, including universities and colleges, to run and manage these facilities on a rental basis. Once the project gains momentum, plans are afoot to encourage private developers to enter the fray by offering incentives like extra floor space index (FSI) and reduced premiums.
The demand for senior citizen housing is expected to grow significantly over the next five to 10 years. With joint families breaking up, real estate developers in Maharashtra have identified senior citizen housing as an important sector. According to the 2011 census, the elderly (aged 60 and above) account for around 10% of Maharashtra's population, higher than the national average of 9%. This number is projected to reach 27.5% by 2050.
The state government plans to incentivise and facilitate senior citizen housing by offering extra FSI, reduction in premiums, stamp duty exemptions, and plot reservations to interested developers. These housing units are designed to provide a decent, independent, and dignified life for seniors.
In addition to senior citizen housing, the new policy will also focus on student accommodation. The state government aims to provide safe and affordable housing options for students in cities with high demand. This move is expected to benefit thousands of students who come from outside the state to pursue higher education.
With the launch of this project, Maharashtra is taking a significant step towards addressing the housing needs of its citizens. The state government's efforts to provide affordable and safe housing options for students and seniors are likely to have a positive impact on the state's real estate sector.
The MHADA building in Tardeo, which has been shortlisted for the student housing project, is expected to be approved by the cabinet soon. Once approved, the project will be implemented, and the state government will start working on its plans to encourage private developers to enter the student housing sector.
The new housing policy is expected to be released in the next couple of weeks, ahead of the upcoming assembly elections. The policy is likely to have a significant impact on the state's real estate sector, and its implementation will be closely watched by developers, stakeholders, and citizens.
In conclusion, Maharashtra's first student housing project is a significant step towards addressing the housing needs of its citizens. The state government's efforts to provide affordable and safe housing options for students and seniors are likely to have a positive impact on the state's real estate sector.
Frequently Asked Questions
What is the Maharashtra government's new housing policy focused on?
The policy focuses on three main areas: senior citizen living, student accommodation, and affordable housing.
What is the demand for senior citizen housing in Maharashtra?
The demand for senior citizen housing is expected to grow significantly over the next five to 10 years, with the elderly population projected to reach 27.5% by 2050.
What incentives will the state government offer to private developers for senior citizen housing?
The state government will offer extra floor space index (FSI), reduction in premiums, stamp duty exemptions, and plot reservations to interested developers.
What is the goal of the student housing project in Tardeo?
The project aims to provide compact studio apartments on a rental basis to students in cities like Mumbai, Pune, and Nashik.
When is the new housing policy expected to be released?
The policy is expected to be released in the next couple of weeks, ahead of the upcoming assembly elections.
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