Mumbai

Ahead of the upcoming Assembly election, the Maharashtra government has introduced a draft housing policy focusing on the economically weaker sections (EWS), lower-income groups (LIG), and middle-income groups (MIG). The policy aims to promote affordable housing, sustainable development, and inclusive growth. Stakeholders are invited to provide feedback by October 3.

The policy addresses the housing gap caused by income disparity, emphasizing affordable housing projects, redevelopment of old buildings, and slum transformation through public-private partnerships. It encourages integrated townships with affordable housing and proposes reserving 10-30% of land in Maharashtra Industrial Development Corporation (MIDC) areas for worker housing under the Walk to Work concept.

To promote sustainable development, the policy includes green building initiatives and addresses the needs of vulnerable groups, such as senior citizens, students, working women, and migrant workers. Affordable Rental Housing Complexes (ARHC) will provide rental housing for industrial workers and transient populations.

The policy offers incentives like single-window clearance, 1% GST, and reduced property taxes for student housing projects. It also proposes innovative construction technologies and materials with tax benefits and reduced GST. To support housing projects, the government will set up a distressed asset fund, amnesty scheme, and state-level constitution fund for affordable housing development.