Maharashtra government has announced plans to invest ₹70,000 crore to construct 3.5 million affordable homes across the state by 2030. The programme, part of the ‘My House, My Right’ initiative under the Maharashtra Housing Policy 2025, is expected to significantly enhance housing access in key urban centres, particularly the Mumbai Metropolitan Region (MMR) and Pune.
According to official reports, the policy targets economically weaker sections and low-income groups, while promoting sustainable urban expansion. Emerging peripheral clusters are being strategically positioned as alternatives to expensive city centres, offering well-planned and connected communities rather than unchecked urban sprawl. Analysts suggest this approach could catalyse inclusive growth and optimise land use in major metropolitan regions. Real estate experts point out that the share of affordable housing in Maharashtra has declined sharply in recent years. Between 2022 and mid-2025, premium housing accounted for nearly 59 per cent of total launches, up from 43 per cent in 2022, while affordable housing under ₹50 lakh fell from 15 per cent to just 12 per cent of launches. This trend underscores the urgent need for state-led interventions to maintain housing inclusivity.
The post-pandemic housing surge has further highlighted structural disparities. Combined annual sales in Mumbai and Pune nearly doubled from 46,528 units (2016–2019) to 1.05 lakh units (2022–H1 2025). Mumbai saw capital appreciation of around 28 per cent between 2019 and H1 2025, peaking at over 10 per cent in 2023, while Pune experienced gains of approximately 20 per cent. Officials indicate that the new policy seeks to balance these market dynamics by promoting affordable housing alongside premium developments. The policy introduces an attractive incentive framework for developers. Senior housing projects will benefit from 2.5 floor space index (FSI), student housing will receive 15 per cent commercial FSI, and all housing segments will enjoy a uniform 1 per cent GST. Experts emphasise that these measures will unlock investment opportunities in senior living, student housing, and rental markets while enabling financially viable redevelopment of Mumbai’s cessed buildings and slum areas.
Officials from Naredco Maharashtra highlight the timing of the initiative, noting that residential markets are experiencing unprecedented momentum but face persistent affordability and inclusivity challenges. By integrating peripheral clusters, incentivising redevelopment, and supporting mixed-use housing solutions, the policy aims to deliver sustainable, equitable urban growth. Urban planners and economists underscore that Maharashtra’s strategy could set a benchmark for other states, demonstrating how structured policy interventions can facilitate inclusive, investment-grade, and environmentally responsible urban development. The government’s approach reflects a commitment to sustainable city-building while simultaneously addressing housing needs for a rapidly expanding population.
Maharashtra Aims Seventy Thousand Crore Investment To Deliver Three Point Five Million Homes
