Mumbai: The Mahayuti government has rolled out a new housing policy, hoping to draw an investment of Rs 70,000 crore in the Maharashtra housing sector and develop 35 lakh affordable houses by 2030.
The policy, called ‘My House, My Right’, cleared by the state cabinet Tuesday, lays heavy emphasis on slum redevelopment. About 40 sq km area in Mumbai is occupied by slums.
“With this decision, marginalised sections of society will get affordable houses. Besides, new investment will come under the policy and it will help Maharashtra achieve its $1-trillion economy goal,” deputy chief minister and housing minister Eknath Shinde told the media.
For projects of the Slum Rehabilitation Authority (SRA), the policy aims to bring in greater transparency, real-time monitoring and accountability. As part of the housing policy, the government will also encourage projects under the cluster redevelopment policy.
The cluster redevelopment policy includes aggregation of buildings or land parcels for holistic redevelopment. Under the Development Control and Promotion Regulations, 2034, cluster redevelopment emphasises on broader urban redevelopment.
Shinde further said the policy will also benefit senior citizens, working women, students, journalists, and retired armed force personnel, among others.
Information about the new housing policy will be available on a digital platform and data related to demand and supply of houses, geo-tagging, fund distribution, and real estate watchdog MahaRERA-related information will be made available using AI.
According to Shinde, for construction of houses, government land will be made available by creating a land bank by 2026. “This policy will focus on the walk-to-work concept. And so, in the MIDC (Maharashtra Industrial Development Corporation) area, 10-30 percent land will be kept reserved for the same,” he said.
For self-redevelopment projects, Rs 2,000 crore will be earmarked. The policy will further encourage green projects and focus on building houses keeping environmental considerations in mind, Shinde added.
(Edited by Nida Fatima Siddiqui)
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