Did the Maha Cabinet Just Approve a Housing Policy Expecting Rs 70,000 Crore Investment?
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Synopsis
The Maharashtra Cabinet has unveiled an ambitious housing policy, anticipating an investment of Rs 70,000 crore aimed at providing affordable housing. This initiative prioritizes the needs of vulnerable groups and proposes extensive slum rehabilitation. With a goal of constructing 35 lakh houses over five years, this policy could significantly impact the housing landscape in the state.
Key Takeaways
- The Maharashtra housing policy aims to provide affordable housing.
- Investment expected to reach Rs 70,000 crore.
- 35 lakh houses planned for construction within five years.
- Focus on slum rehabilitation and redevelopment.
- Prioritizes low-income earners, seniors, women, and students.
Mumbai, May 20 (NationPress) The Maharashtra Cabinet, under the leadership of Chief Minister Devendra Fadnavis, has approved a new housing policy aimed at facilitating affordable housing for residents.
This initiative is driven by the principle of 'My house- My rights.'
The government anticipates an investment of Rs 70,000 crore over the next five years for the execution of this ambitious housing strategy, which includes a robust program for slum rehabilitation and redevelopment.
Priority will be given to the unique requirements of low-income individuals, senior citizens, women, industrial workers, and students, as articulated in a government statement.
The plan outlines the construction of 35 lakh houses within a five-year timeframe.
Additionally, the government aims to enhance the MahaAwas Fund to Rs 20,000 crore and will establish district land banks for government and semi-government entities.
A state-level portal is set to be developed to provide insights into housing developments through partnerships with the private sector, developers, and state-run enterprises.
In other news, the cabinet approved seven additional proposals from various departments.
Among these, a compressed biogas project employing biomethanation technology was sanctioned.
A piece of land located at Deonar, within the boundaries of the Brihanmumbai Municipal Corporation, will be leased to Mahanagar Gas Limited at a favorable rate.
The Cabinet also ratified proposals awaiting approval in the Industry Department due to expired policy terms.
Furthermore, it has been decided to establish a senior civil court in Karanja, District Washim, with the approval of 28 new positions and a budget of Rs 1.76 crore.
The Cabinet has revised the cost for the Sulwade Jamphal Kanoli Lift Irrigation Scheme to Rs 5329.46 crore, which will boost irrigation capacity across 52,720 hectares.
Moreover, the Cabinet approved a revised budget of Rs 2025.64 crore for the project under the Aruna Medium Project, which will create irrigation capacity for approximately 5,310 hectares.
Administrative approval of Rs 6394.13 crore was granted for the Poshir Project, located in Taluka Karjat, District Raigad, along with Rs 4869.72 crore for another project in Shilar Taluka, also in Raigad District.
Point of View
The Maharashtra government's housing policy reflects a significant commitment to addressing the urgent need for affordable housing. By prioritizing underrepresented groups and aiming for substantial investment, this initiative underscores a broader trend toward inclusive urban development. It is crucial for policymakers across the nation to observe and learn from Maharashtra's approach, ensuring that housing becomes a fundamental right for all citizens.
NationPress
09/06/2025
Frequently Asked Questions
What is the main objective of the Maharashtra housing policy?
The primary aim of the Maharashtra housing policy is to provide affordable housing to residents, ensuring that low-income individuals, senior citizens, women, industrial workers, and students receive priority consideration.
How much investment is the government expecting?
The government anticipates an investment of Rs 70,000 crore over the implementation period of the housing policy.
How many houses does the policy propose to construct?
The policy proposes the construction of 35 lakh houses within a five-year timeframe.
What additional initiatives are included in the policy?
In addition to housing, the policy includes plans for slum rehabilitation and the establishment of district land banks.
How will the MahaAwas Fund be affected by this policy?
The government plans to increase the MahaAwas Fund to Rs 20,000 crore to support housing initiatives.
