Maharashtra's New Housing Policy to Boost Affordable Housing Segment
Housing minister Atul Save announced that the state's new housing policy would be announced soon, with a proposal to reduce stamp duty and registration charges on affordable housing.
MaharashtraHousing PolicyAffordable HousingReal EstatePuneReal Estate PuneSep 07, 2024
The minister stated that a proposal to reduce stamp duty and registration charges on affordable housing would be submitted to the revenue minister shortly. This move is likely to boost the affordable housing segment, which has been struggling in recent times.
Save mentioned that the policy would also simplify approvals and clearances required for housing projects, making it easier for developers to construct affordable housing units. The Centre's push for affordable housing and 'Housing for All' initiative has been a driving force behind this policy.
The state government has already provided a 1% reduction on property registration charges for women. Save hinted that other concessions in registration could be extended to the people, and suggestions from the real estate forum would be considered in the new housing policy.
The new housing policy will also include measures to push for stalled SRA projects, as well as ensure timely completion of all redevelopment projects. With key cities like Pune and Mumbai accounting for most of the new launches, the push for affordable housing would help address the lack of housing in key city areas.
According to the latest state economic survey, the state's urban housing is 30% short of target. The push for affordable housing is expected to address this shortage, and provide more housing options for people in the affordable segment.
Developers have welcomed the move, stating that incentives would encourage them to construct more affordable housing units. Consumer forums have claimed that the new policy has provisions for safeguarding the interest of homebuyers and fast-tracking the long-delayed process of securing conveyance of properties.
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The Maharashtra Housing Area Development Authority (Mhada) has been instructed to advertise and distribute government dwelling units through a lottery system, ensuring transparency and equal opportunity for all eligible employees.
The Delhi Development Authority has created a help desk at Vikas Sadan to manage inquiries and aid in the registration process for its latest housing schemes. A helpline number (1800110332) is available from Monday to Saturday.
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Information
The Maharashtra government has been working on a new housing policy to boost the affordable housing segment. The policy is expected to provide incentives to developers, simplify approvals and clearances, and safeguard the interest of homebuyers.
The Maharashtra Housing Area Development Authority (Mhada) is a government agency responsible for providing affordable housing options to the people of Maharashtra.
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Keywords Maharashtra, Housing Policy, Affordable Housing, Stamp Duty, Registration Charges, Real Estate, Pune, Mumbai, SRA Projects, Redevelopment Projects, Homebuyers, Conveyance of Properties.
Frequently Asked Questions
What is the main objective of Maharashtra's new housing policy?
The main objective of Maharashtra's new housing policy is to boost the affordable housing segment and provide more housing options for people in the affordable segment.
What is the current shortage of urban housing in Maharashtra?
According to the latest state economic survey, the state's urban housing is 30% short of target.
What is the role of Mhada in the new housing policy?
The Maharashtra Housing Area Development Authority (Mhada) has been instructed to advertise and distribute government dwelling units through a lottery system, ensuring transparency and equal opportunity for all eligible employees.
What is the helpline number for the Delhi Development Authority's housing schemes?
The helpline number is 1800110332, available from Monday to Saturday.
What is the expected impact of the new housing policy on homebuyers?
The new policy is expected to safeguard the interest of homebuyers and fast-track the long-delayed process of securing conveyance of properties.
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