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3mo ago

Maharashtra Approves Landmark ₹70,000 Crore Housing Policy

The 'My Home, My Right' initiative targets 35 lakh affordable homes by 2030, emphasizing inclusivity, sustainability, and slum redevelopment.

Maharashtra Housing Policy update: The Maharashtra cabinet has approved the state’s 2025 housing policy, targeting the construction of 35 lakh affordable homes by 2030, (Picture for representational purposes only)
The state plans to create affordable housing near major hospitals in cities like Mumbai. Repersentative picture (HT Archives) (Bachchan Kumar)
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Overview

  • The Maharashtra cabinet has formally approved the 2025 State Housing Policy, the first comprehensive housing initiative in 18 years.
  • The policy commits ₹70,000 crore to constructing 35 lakh affordable homes for economically weaker sections and low-income groups by 2030.
  • Key features include an AI-powered State Housing Information Portal for geo-tagging, fund tracking, and integration with government systems like MahaRERA and PM Gati Shakti.
  • A dedicated ₹2,000 crore Self-Redevelopment Cell will assist cooperative housing societies with planning, funding, and execution of redevelopment projects.
  • The policy prioritizes slum rehabilitation, cluster redevelopment, and green construction practices to ensure transparency, inclusivity, and climate resilience.