Maharashtra Housing Policy 2025 sanctioned; promises Quality Living Standards

In a significant boost to real estate in Maharashtra, the CM Devendra Fadnavis-led State Government sanctioned ‘Majhe Ghar, Majha Adhikar’ (My Home, My Right). The Maharashtra Housing Policy 2025 received approval two months after it was tabled. Earlier this week, the Maharashtra Housing Department notified the Government Resolution (GR) to approve the Maharashtra Housing Policy 2025.

The newly adopted policy brings major relief to the middle class and senior citizens, as it aims to create quality housing projects. Along with setting new standards in the property sector, the new Maharashtra Housing Policy will focus on redevelopment. Including the revamping of old structures and stalled projects. The State ruled by Mahayuti Sarkar plans a public-private partnership to render qualitative accommodations to its citizens.

Key Pointers | Maharashtra Housing Policy 2025

1. Land Bank Creation

To meet the soaring demand for the best residential projects in Maharashtra, the State Government aims to create a land reserve by 2026. It will create the much-needed land to develop qualitative yet affordable homes.

2. Investment of Rs. 70,000 Cr estimated under new Maharashtra Housing Policy 2025

Keeping in view the rising employment and income, the demand for home ownership is rising manifold. Thus, the Fadnavis-led Maharashtra Government looks forward to structuring 35 lakh immovable asset stock by 2030. The Government aims Rs. 70,000 Cr infusion for the same.

3. All Government Departments will work in a synchronized Manner

All including Revenue, Forest, Road, and Water Resource departments of the State Government will work in a synchronized way for creation of land bank. Several other departments like Industries and more, with land availability will also mark their contribution in making affordable housing a reality.

4. Restart Working on Stalled Projects

The Housing Policy 2025 in Maharashtra is a blessing for homebuyers as several stalled projects will see light of the day now. The work be based on redevelopment pattern to ensure timely and cost effectively.

The decision to restart stalled projects makes homebuyers hopeful to receive the possession of their dream home. Also, it brings curtain down on speculations surrounding irregularities in real estate transactions and reflect a positive outcome for homebuyers and investors.

5. Stamp Duty Relaxation for Elderly

Amid housing for all, the Devendra Fadnavis-led State Government prioritized senior citizens too. As the complete new idea of slashing stamp duty to flat Rs. 1,000. Earlier, a slab of 5-7% tax on immovable asset in accordance to its location was effective for aged citizens.

The new Maharashtra Housing Policy stages flexibility to encourage retirement planning to maintain financial independence. Also, the Government envision to bestow qualitative living standards for aged citizens. It is property buyer segment that is overshadowed by regular demand and supply in the property market.

6. Boost to Self-Redevelopment of Housing Properties

While Majhe Ghar, Majha Adhikar initiative promises to offer development of cooperative housing societies. In a big push to redevelopment of residential clusters corpus of Rs. 2,000 Cr is allocated to support and assist cooperative housing societies seeking redevelopment.

The allocated budget is a fund for a dedicated cell that will render end-to-end support for the development of independent projects.

The State Government, aiming to achieve a maximum affordable housing execution rate, proposes an affordable housing survey. It will help the Government to assess requirements and lifestyle consumption especially after pandemic.