Expected Changes in Maharashtra’s Housing Policy: Focus on Mumbai and Other Cities

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    Housing for Seniors and Students

    The government is thinking about offering benefits for housing aimed at senior citizens and students. Valsa Nair Singh, the Additional Chief Secretary of the Housing Department, mentioned plans for a comprehensive policy after consulting various stakeholders and inviting suggestions from departments and developers.

    Focus on Affordable Housing

    The new policy might offer incentives for affordable housing, especially in metro cities under the Pradhan Mantri Aawas Yojana (PMAY) scheme. Developers propose changes to the definition of affordable housing and seek improvements in executing slum rehabilitation projects.

    Resolving Stalled Projects

    Policy decisions to address stalled projects, including slum rehabilitation initiatives, are expected. Over 7,700 real estate projects registered under Maharashtra Real Estate Regulatory Authority (MahaRERA) have lapsed, prompting efforts to revive them, particularly Mumbai’s slum redevelopment.

    ‘Walk-to-Work’ Initiatives

    The government aims to introduce a ‘walk-to-work’ policy, especially in commercial districts like Bandra and Andheri. This initiative intends to make commuting easier for residents working in these areas by creating walkable infrastructure.

    Public Feedback and Finalization

    Once the draft policy is ready, the government will seek feedback and objections from the public. After considering these, the policy will undergo scrutiny and approval by the cabinet. The policy’s release is expected before the 2024 Lok Sabha polls’ code of conduct comes into effect.

    The updates to Maharashtra’s housing policy aim to meet diverse housing needs, revive stalled projects, and redefine criteria for affordable housing, among other strategic initiatives.

    Also Read: Greater Noida’s Property Registrations and Development Insights

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