In a significant move poised to redefine urban living and address the surging demand for affordable housing, the Maharashtra government has unveiled its comprehensive housing policy after nearly two decades. The “Majhe Ghar, Majha Adhikar” (My Home, My Right) policy, approved by the cabinet, targets the construction of a staggering 35 lakh affordable homes by 2030, backed by a robust investment of ₹70,000 crore.
This forward-thinking policy outlines a strategic roadmap to empower homebuyers, support developers, and invigorate the entire housing ecosystem. Here are five key takeaways from this much-anticipated announcement, packed with SEO-friendly insights for those seeking to understand its impact on the real estate market.
1. A New Era for Maharashtra Housing: First Major Policy in 20 Years
Breaking a nearly two-decade hiatus, the 2025 Housing Policy marks Maharashtra’s first significant update since 2007. Despite numerous previous attempts, this policy stands as a testament to the government’s commitment to evolving housing needs, particularly in the post-COVID-19 landscape. As Valsa Nair Singh, Additional Chief Secretary, Housing Department, aptly noted, “This roadmap was essential because the world has changed significantly, and housing demands have shifted.” This update is crucial for both real estate investors and first-time homebuyers in Maharashtra.
2. Boosting Self-Redevelopment: Empowering Cooperative Housing Societies
Recognizing the immense potential within the Mumbai Metropolitan Region (MMR), where over 25,000 buildings are ripe for redevelopment (valued at ₹30,000 crore), the new policy provides a strong impetus for self-redevelopment. The state has allocated ₹2,000 crore and proposes a dedicated cell to provide end-to-end support for cooperative housing societies. This includes guidance on planning, funding, developer selection, and project execution, empowering societies to take control of their redevelopment journeys. This initiative is a game-changer for housing society redevelopment in Mumbai and the wider MMR.
3. Government Land Unleashed for Affordable Housing Stock
To achieve its ambitious goal of 35 lakh affordable housing units by 2030, the Maharashtra government is committing to creating a dedicated land bank for residential use by 2026. This collaborative effort will involve various key departments, including Revenue, Forest, Maharashtra State Road Development Corporation, Water Resources, and Industries. This strategic utilization of government land is expected to significantly increase the supply of affordable housing in Maharashtra and address the housing deficit.
4. Revitalizing Stalled Projects & Driving Slum Rehabilitation
The new policy takes a proactive approach to revitalize the real estate sector by focusing on cluster redevelopment for slum rehabilitation. To inject new life into stalled real estate projects, including those in slum rehabilitation, the government plans to introduce attractive incentives under the cluster redevelopment scheme. This initiative aims to accelerate slum rehabilitation projects in Mumbai and bring much-needed relief to long-delayed developments.
5. Incentivizing Senior Living, Student Housing & “Walk-to-Work” Zones
Promoting the Prime Minister’s “walk-to-work” vision, the policy encourages residential development in proximity to employment hubs, particularly in industrial zones. This will be achieved by reserving 10% to 30% of land allocated for amenity plots in industrial areas for residential purposes.
Furthermore, the Maharashtra government has eased norms related to taxation, stamp duty, and Floor Space Index (FSI) for developers and homebuyers involved in senior living and student housing projects, whether for sale, purchase, or lease. This focus on senior citizen housing in Maharashtra and student accommodation solutions is a significant step towards creating more diverse and inclusive housing options.
Real estate developers anticipate that these initiatives will dramatically impact the future supply of affordable housing, especially in a dense city like Mumbai, where the Maharashtra Housing and Area Development Authority (MHADA) currently offers limited options through its lottery schemes. This comprehensive policy signals a bright future for Maharashtra’s real estate market and its citizens.
