Union Budget 2025: CREDAI-MCHI Welcomes New Housing Policy, Emphasises Key Reforms

Maharashtra’s newly announced housing policy has garnered support from the real estate sector, with CREDAI-MCHI, the apex real estate body in the Mumbai Metropolitan Region, highlighting its potential to drive structured urban development.

Welcoming the policy, Domnic Romell, President of CREDAI-MCHI, emphasized the need for a single-window clearance system to streamline approvals and reduce project delays. “CREDAI-MCHI has actively shared recommendations to address challenges in urban redevelopment and housing accessibility. The single-window system will significantly improve efficiency in project execution,” Romell stated.

He underscored cluster redevelopment as a critical solution for tackling land fragmentation, ageing infrastructure, and inadequate urban amenities. The organization also stressed the role of transit-oriented development in enhancing connectivity and easing congestion, while advocating for incentives for green building practices to promote sustainable growth.

Another key demand from CREDAI-MCHI is the expansion of rental housing models, especially for working women and senior citizens, along with fiscal incentives to support affordable housing projects. Additionally, the organization has called for a revision of the flood line policy, ensuring that urban development remains practical while maintaining environmental safeguards.

The new housing policy, announced by Maharashtra Deputy Chief Minister and Housing Minister Eknath Shinde, aims to address the state’s rising housing demand through affordable housing, rental housing, and large-scale redevelopment projects. The Maharashtra Housing and Area Development Authority (MHADA) has been tasked with constructing one lakh homes in the next two years.

To tackle Mumbai’s space constraints, the government will implement a cluster redevelopment model, prioritizing large-scale, eco-friendly housing projects over individual redevelopments. This approach is expected to replace ageing structures with modern housing equipped with improved infrastructure and amenities.

The policy also envisions a collaborative effort between the Slum Rehabilitation Authority (SRA), MHADA, the City and Industrial Development Corporation (CIDCO), and the Mumbai Metropolitan Region Development Authority (MMRDA) to expedite stalled housing projects. The government aims to streamline approvals and ensure the faster execution of redevelopment initiatives, ultimately delivering homes at an accelerated pace.

CREDAI-MCHI has reaffirmed its commitment to working alongside the government to implement these initiatives, ensuring that Maharashtra’s housing sector evolves into a more sustainable and inclusive urban environment.