MUMBAI, 03 SEPTEMBER 2016: The Maharashtra Chief Minister Devendra Fadnavis announced the state's new housing policy on 02 September 2016. The Chief Minister was quoted in media reports as having said the new housing policy was 'not for the "builders lobby but for the common man'.

"This is exactly how it should be – housing policy should be for the common man, for the home seeker," said Niranjan Hiranandani, CMD, Hiranandani Communities and Founder-First President, NAREDCO West.

Welcoming the new policy, he said the new policy had potential to create much needed affordable housing for home seekers in the state. "It is a welcome move, and I hope the implementation is done in a systematic and time-bound manner." Describing the policy as being 'in the right direction', Niranjan Hiranandani said the Chief Minister mentioned issues relating to enhancing transport system in Mumbai such as metro, monorail, bus and rail services as having been considered in the policy. "The combination of infrastructure creation and pro-active housing policy have the potential to create sustainable real estate development which focuses on affordable housing," he added.

From the Centre, we have the announcement from the Cabinet Committee on Economic Affairs (CCEA), approving an array of measures; with the intent to revive real estate, and this new Housing policy for Maharashtra adds to the positives, said Niranjan Hiranandani.

The Maharashtra CM, in his address, referred to Mumbai, where affordable housing is an acute problem. "Devendra Fadnavis, the Maharashtra CM, said the new housing policy will emphasize the role of 'redevelopment' and 'cluster development'. This is a pro-active step, especially when one considers that the existing cluster development policy has been extended to the suburbs as well. Redevelopment of Dharavi slum, issues relating to transit camps and old MHADA buildings are among the other 'positives' for Mumbai," said Niranjan Hiranandani.

The new housing policy is being seen as a 'positive development' by the Maharashtra state government. The new policy extends the redevelopment policy bonanza for old dilapidated buildings to Mumbai's suburbs. Under the new housing policy, more 10,000 old and tenanted building in the suburbs will get an FSI of 3 under modified DCR 33(7)(a) scheme for redevelopment. In addition to this, the Maharashtra CM also announced extension of the cluster redevelopment scheme under DCR 33(9) to the suburbs.

"The Maharashtra CM said the initiatives would benefit lakhs of Mumbaikars, residing in more than 22000 buildings – this is definitely a welcome step," concluded Niranjan Hiranandani.


Niranjan Hiranandani is Founder & MD, Hiranandani Group. His recent initiative is Hiranandani Communities. He is the Founder and First President (West), National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India.

Media Manager -Ritika Shah
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