Maharashtra Cabinet Approves New Housing Policy, Real Estate Industry Hails Move

Mumbai, May 20, 2025: In a landmark move to address Maharashtra’s housing challenges and accelerate inclusive urban growth, the Maharashtra Cabinet, under the leadership of chief minister Devendra Fadnavis, has approved the much-anticipated state housing policy titled Majhe Ghar–Majhe Adhikar’ (My Home–My Rights).

With an ambitious investment outlay of INR 70,000 crore, the policy aims to construct 35 lakh homes over the next five years, making it one of the most comprehensive housing blueprints in the state’s history.

The real estate sector has welcomed the government’s initiative, calling it a game-changer for Maharashtra’s housing ecosystem.

Prashant Sharma, President, NAREDCO Maharashtra, said, “The Majhe Ghar–Majhe Adhikar policy is a commendable step in realising the vision of housing for all in Maharashtra. With a robust investment plan of INR 70,000 crore and a clear target of constructing 3.5 million homes over the next five years, the government is prioritising inclusive urban development.”

He added, “The focus on slum rehabilitation, redevelopment and the creation of a MahaAwas Fund will be instrumental in addressing the housing shortage and improving the urban landscape.”

Nishant Deshmukh, Founder and Managing Partner, Sugee Group, said that the housing policy is a “landmark decision with the potential to change the face of urban housing in Maharashtra”.

“The comprehensive approach—from slum rehabilitation to providing homes for working women, senior citizens and labourers—reflects the government’s inclusive vision. With strategic funding and transparent implementation, this policy can unlock massive redevelopment opportunities in cities like Mumbai while also ensuring social equity and improved quality of life.”

Shraddha Kedia-Agarwal, Director, Transcon Developers, said, “The new housing policy is a forward-looking initiative that addresses both the urban housing deficit and the needs of vulnerable segments of society. The focus on sustainable and eco-friendly development resonates strongly with our philosophy. By setting a goal to build 35 lakh homes and enabling infrastructure through the MahaAwas Fund, the state government is laying a solid foundation for holistic growth, women-centric housing planning and improved liveability across Maharashtra.”

Samyak Jain, Director, Siddha Group, said that the “visionary housing policy is a timely intervention that addresses the pressing need for affordable and inclusive housing across Maharashtra”.

“The emphasis on slum redevelopment and housing for EWS, LIG and MIG categories aligns well with the aspirations of millions. We welcome the state’s commitment towards sustainable, eco-friendly homes and believe that public-private collaboration under this policy will play a key role in transforming the housing ecosystem and uplifting urban communities.”