Maharashtra Cabinet Approves New Housing Policy; Mumbai's Real Estate Industry Hails Move

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 ₹70,000 crore, the policy aims to construct 35 lakh (3.5 million) homes over the next five years, making it one of the most comprehensive housing blueprints in the state’s history.

He said the policy prioritises low-income groups, senior citizens, women, industrial workers and students. 

The chief minister further stated that affordable and inclusive housing for working women, senior citizens and students have been considered, and issues of rental housing and creating land banks have been addressed.

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 realizing the vision of Housing for All in Maharashtra. With a robust investment plan of ₹70,000 crore and a clear target of constructing 3.5 million homes over the next five years, the government is prioritizing inclusive urban development. 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. We believe this progressive policy will provide a significant boost to real estate, create large-scale employment, and ensure dignified living for citizens across income groups.”

Nishant Deshmukh, Founder and Managing Partner, Sugee Group exclaimed: “The announcement of the 'Majhe Ghar – Majhe Adhikar' 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 laborers — 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.”