Maharashtra Unveils USD 8.4 Billion Plan for 3.5 Million Affordable Homes by 2030

Maharashtra Unveils INR 70,000 Crore Plan for 3.5 Million Affordable Homes by 2030

India: Mumbai and Pune are set to witness significant expansion in affordable homes under a new state initiative outlined in the JLL-NAREDCO report, “Towards ‘Housing for All’ in Maharashtra – The 2025 Policy Blueprint.” The Maharashtra government has announced an investment of INR 70,000 crore (USD 8.4 billion) to deliver 3.5 million affordable homes by 2030, addressing a decline in low-cost housing supply amid growing demand. The policy, titled “My House, My Right,” focuses on inclusivity, affordability, and transparency through the State Housing Information Portal, integrating data with platforms such as MahaRERA and PM Gati Shakti. The initiative aims to close the gap between rising premium housing launches and shrinking affordable housing supply, which has fallen from 15% to 12% of total new launches between 2022 and the first half of 2025.

The Maharashtra State Housing Policy 2025 outlines a strategic framework for balanced development through data-driven governance, incentives, and targeted redevelopment. It includes measures such as 2.5 FSI for senior housing, 15% commercial FSI for student housing, and a 1% GST rate across segments to attract investment. Mumbai’s metropolitan expansion will be supported by four key affordable housing corridors, Navi Mumbai, Thane, Vasai-Virar, and Kalyan-Dombivli, while Pune’s multi-directional model focuses on integrated IT zones, employment corridors, and sustainability-focused communities. This large-scale initiative seeks to foster inclusive urban growth, strengthen middle-income homeownership, and align housing supply with the state’s long-term economic development plans.

Source: Construction Week