Maharashtra Housing Policy 2025: Everything you need to Know About

After nearly two decades, a new housing policy is introduced for streamlining Maharashtra real estate sector. The proposed initiative ‘Majhe Ghar, Majha Adhikar’ (My Home, My Right) has now received approval from the Fadnavis-led State Government. The sanction was granted two months after the introduction of the proposed policy. A Government Resolution (GR) is notified by the Maharashtra Housing Department to announce sanction.

Maharashtra Housing Policy 2025: Everything you need to Know About

The new policy aims to provide quality living standards at an affordable cost for middle-class and elderly citizens. Also, the decision to revamp old buildings and cooperative housing societies creates a wave of happiness amongst homeowners. The Fadnavis-led Government plans to incorporate a public-private partnership (PPP model) for cost-effectiveness.

Maharashtra Housing Policy 2025 | Key Highlights

1. Development of Land Bank

For rendering nearly 35 lakh housing units by 2030, the Maharashtra State Government plans to secure a massive land bank by 2026. The land reserve will be solely used for the development of residential projects in Maharashtra.

Along with regular acquisition for the land bank, the Fadnavis Government also seeks land acquisition from Government departments. Thus, the Forest, Revenue, and Water resources departments will render a land parcel in case of abundant land holdings.

2. Corpus of Rs. 70,000 Cr Initiated under new Maharashtra Housing Policy 2025

A dedicated fund of Rs. 70,000 Cr is allocated for developing new residential projects and to meet demand for affordable housing for all. The fund will serve the interest of quality residential accommodation for homebuyers and investors.

3. No More Stalled Projects

According to the New Maharashtra Housing Policy 2025, the State Government will commence work on stalled projects. Hence, bringing home buyers' apprehensions to an end. The simultaneous working on these and fresh structures boosts trustworthiness amongst property buyers.

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The biggest challenge to overcome for the Devendra Fadnavis Government is to lower the number of stalled projects. According to the report published in a leading daily publication, there will be nearly 33 percent of incomplete projects by January 2025.

Hence, it is important for the State Government to tighten the noose against irregularities under the Maharashtra Housing Policy 2025.

4. Stamp Duty Relief for Senior Citizens

Another reason to cheer is the flat stamp duty value for senior citizens. As tax relief brought down the massive stamp duty from 5-7% to only Rs. 1,000 stamp duty for elderly. The decision aims at ensuring financial stability and independence for the individuals post retirement. Also, it is an underserved segment in the Indian real estate. This significant move in the Maharashtra Housing Policy 2025 is ideal to consider as a top retirement planning option.

5. Redevelopment of Co-operative Housing Societies

Under the Majhe Ghar, Majha Adhikar policy, the Mahayuti Sarkar aims at offering safe and spacious housing units. For rendering end solutions and guiding redevelopment operations, the Maharashtra Government has allocated a massive fund.

Also, the Mahayuti Sarkar in Maharashtra proposed an affordable housing survey, as it will offer a better understanding of housing requirements. The demand to conduct a survey is raised as housing needs differ post-pandemic. Thus, it is important to understand the dream home idea of homebuyers in the state.

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