Maharashtra’s New Housing Policy a Game-Changer: Dr Niranjan Hiranandani
Dr. Niranjan Hiranandani, Chairman of NAREDCO and the Hiranandani Group, has hailed Maharashtra’s newly unveiled State Housing Policy as a visionary step that aligns with the state’s ambition to solidify its role as India’s economic powerhouse.
He highlighted the policy’s strong focus on rental housing for working women, students, and industrial workers as a transformative solution to the pressing urban housing shortage. The walk-to-work model near employment hubs, coupled with improved multi-modal infrastructure and last-mile connectivity, is expected to significantly boost industrial and commercial real estate, promoting integrated urban development.
Dr. Hiranandani emphasized that the creation of self-redevelopment cells, the ₹2,000 crore fund for redevelopment, and simplified compliance processes will unlock stalled projects and address the challenge of limited land availability in cities. He also pointed to initiatives like the ₹20,000 crore MahaWas Niwas Nidhi and the use of CSR funds for slum rehabilitation and social housing as signs of a committed effort to uplift urban living standards.
The policy’s collaboration with premier institutions like IITs and IIMs, its emphasis on IT-based project monitoring, incentive FSI for rehab areas, and stronger legal safeguards aim to foster transparency, speed up project execution, and attract investor confidence.
Calling it a leap forward, Dr. Hiranandani said the policy creates a platform for inclusive, affordable, and resilient development. It not only offers immense potential for transforming business models in the real estate sector but also positions Maharashtra to build a globally competitive, future-ready real estate ecosystem.
