The Maharashtra government has launched an ambitious new Maharashtra My Home My Rights housing policy 2025, “Majhe Ghar – Majhe Adhikar” (My Home – My Rights) – the State Housing Policy 2025. This landmark initiative, approved by the Maharashtra cabinet, aims to significantly boost affordable housing, urban redevelopment, and dignified living across the state. With a massive investment outlay of ₹70,000 crore, the policy is set to construct 35 lakh homes over the next five years, addressing a critical need for housing in one of India’s most populous states.
Key Highlights of the Maharashtra My Home My Rights Housing Policy 2025:
Empowering Large-Scale Housing Projects with “Maha Aawas Nidhi”
A cornerstone of the new policy is the creation of the ₹20,000 crore ‘Maha Aawas Nidhi‘ at the state level. This dedicated fund will provide crucial financial backing for large-scale housing projects, facilitating the swift and efficient implementation of the policy’s objectives. Industry experts believe this significant financial commitment will de-risk projects and attract greater investment in the housing sector.
Focus on Redevelopment, Self-Redevelopment, and Social Housing
The “Majhe Ghar – Majhe Adhikar” policy places a strong emphasis on urban renewal through various redevelopment models:
- Streamlined Redevelopment: To combat delays and ensure quality, a state-level grievance redressal committee will be established. This committee will act as a mediator for stakeholders and rigorously monitor quality standards, ensuring adherence to redevelopment commitments.
- Boosting Self-Redevelopment: Recognizing the potential of cooperative housing societies to drive their own development, a dedicated self-redevelopment cell will be set up. This initiative will be further bolstered by a ₹2,000 crore self-redevelopment fund, encouraging and supporting independent redevelopment projects.
- Inclusive Social Housing: The policy is committed to leveraging Corporate Social Responsibility (CSR) funds to promote social housing initiatives. This will be achieved through strategic public-private partnerships, involving both developers and project enablers, to create housing solutions for diverse income groups.
Innovative “Rent-to-Own” Model for Vulnerable Groups
A pioneering feature of the State Housing Policy 2025 is the introduction of a “rent-to-own” model. This innovative scheme allows working women, students, and industrial workers to initially rent homes for up to 10 years, with the valuable option to purchase the property thereafter. This flexible approach provides immediate housing solutions while offering a clear pathway to homeownership, promoting financial stability and social inclusion.
Catalyzing Economic Growth and Urban Development
The policy is not just about housing; it’s a strategic move to stimulate economic growth and foster integrated urban development. The “walk-to-work” model, promoting housing near employment hubs with robust multi-modal infrastructure and last-mile connectivity, is expected to significantly boost industrial and commercial real estate. This integrated approach is anticipated to generate substantial demand for residential real estate, including townships and cluster developments, creating large-scale employment opportunities.
Data-Driven Decision Making with State Housing Information Portal (SHIP)
To ensure transparency, efficiency, and data-driven decision-making, the government will establish a centralized digital platform – the State Housing Information Portal (SHIP). This portal will serve as a crucial tool for collecting and analyzing housing data, facilitating informed policy adjustments, and effectively tracking project progress.
Industry Perspectives:
Leading figures from the real estate sector have lauded the Maharashtra Housing Policy 2025:
- Prashant Sharma, President, NAREDCO Maharashtra, highlighted that the policy’s focus on slum rehabilitation, redevelopment, and the creation of the MahaAwas Fund will be instrumental in addressing the housing shortage and improving the urban landscape. He believes it will significantly boost real estate, create employment, and ensure dignified living for citizens.
- Domnic Romell, President, CREDAI-MCHI, emphasized the government’s deep commitment to inclusive urban development and addressing the pressing need for affordable, accessible, and dignified housing across all income groups..
- Niranjan Hiranandani, Chairman, NAREDCO & Hiranandani Group, praised the comprehensive plan, particularly its strategic emphasis on rental housing and the “walk-to-work” model. He anticipates it will be a transformative step toward addressing urgent urban housing needs and catalyzing industrial and commercial real estate.
- Nishant Deshmukh, Founder and Managing Partner, Sugee Group, expressed optimism that with strategic funding and transparent implementation, the policy will unlock massive redevelopment opportunities in cities like Mumbai while ensuring social equity and an improved quality of life.
Conclusion:
The Maharashtra State Housing Policy 2025, “Majhe Ghar – Majhe Adhikar,” marks a significant stride towards ensuring housing for all. With its substantial financial backing, innovative models like “rent-to-own,” and a strong focus on redevelopment and data-driven implementation, this policy is poised to transform the housing landscape in Maharashtra, fostering sustainable urban growth and improving the quality of life for millions of its citizens.
