The Maharashtra government has launched an ambitious ₹70,000 crore affordable housing policy under the banner “My House, My Right”, aiming to deliver 3.5 million homes by 2030. The focus will be on the Mumbai Metropolitan Region (MMR) and Pune, where urban density and housing demand are the highest.
The policy comes at a crucial time. Between 2022 and the first half of 2025, the share of new launches priced below ₹50 lakh declined from 15% to 12%, while luxury and premium housing grew from 43% to nearly 60% of total launches. This imbalance highlighted the urgent need to revive affordable housing supply.
To make projects viable for developers, the state has introduced several incentives. These include 2.5 FSI for senior housing, 15% commercial FSI for student housing and a uniform 1% GST rate across housing categories. Additionally, redevelopment of cessed buildings and slums in Mumbai will be encouraged through brownfield projects.
Real estate experts say the policy is well-timed. Residential sales in Mumbai and Pune have surged in recent years, rising from an average of 46,500 units annually between 2016–19 to over 1.05 lakh units in 2022–H1 2025. The new initiative aims to bring balance, inclusivity and accessibility back to the housing market while supporting Maharashtra’s broader vision of sustainable urban growth.
If implemented effectively, this move could transform the housing landscape of Maharashtra, making affordable living a reality for millions.
