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Housing

Maharashtra Introduces Inclusive Housing Policy 2025, Focuses on Senior Living and Inclusive Urban Development

Strategic Insights

— 1 min read

The Maharashtra government has announced its comprehensive Housing Policy 2025, which introduces significant incentives for senior living housing projects. The policy aims to promote inclusive and future-ready urban development in the state, addressing modern housing concepts such as senior citizen housing and student accommodation. The policy includes reduced stamp duty, property tax concessions, and tax relaxations for developers, among other incentives.

Key Takeaways:

  • The Maharashtra Housing Policy 2025 offers a reduced stamp duty of Rs.1,000 for buyers of senior living properties, down from 5% to 7% of the property's value.
  • The policy provides property tax concessions for owners of senior living homes, along with various tax relaxations and enhanced Floor Space Index (FSI) allowances for developers.
  • The policy addresses the growing demand for elderly-friendly housing, recognizing senior citizen housing as a distinct, regulated asset class.
  • The government plans to redevelop ageing and dilapidated old-age homes and orphanages, integrating them with senior citizen housing projects to accommodate the growing elderly population.
  • Maharashtra's elderly population accounted for around 10% of the total in 2011, projected to rise to 17% by 2036.
  • Leading real estate developers such as Rustomjee Group and Dosti Realty are preparing to launch dedicated senior living housing projects in Maharashtra.
  • The policy aims to foster inclusive and age-friendly urban development, promoting private investment in the senior housing sector.

Statistics:

  • Stamp duty reduced to Rs.1,000 from 5% to 7% of the property's value.
  • Maharashtra's elderly population accounted for 10% of the total in 2011.
  • Projected to rise to 17% by 2036.
  • Reduced property tax concessions for owners of senior living homes.
  • Enhanced FSI (Floor Space Index) allowances for developers.

Sources:

  • Press Release: Maharashtra Housing Policy 2025 (no date mentioned)
  • "Maharashtra Introduces Inclusive Housing Policy 2025, Focuses on Senior Living and Inclusive Urban Development" - Hindustan Times (no date mentioned, published by HT Digital Content Services with permission)

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