Maharashtra govt aims to build 4 lakh houses under PMAY this year

Furthermore, Deputy Chief Minister and Finance Minister Devendra Fadnavis, in the budget, also mentioned that under the Ramai Awas Yojana, 1.5 lakh houses will be constructed with an outlay of Rs 1,800 crore, out of which 25,000 houses will be for the Matang community. One lakh houses will be constructed by spending Rs 1,200 crore in Shabri, Pardhi and Adim Awas Yojana. Moreover, in the Yashwantrao Chavan Mukt Vasahat Yojana, 25,000 houses will be built for vimukta jati and nomadic tribes, and 25,000 houses will be for beneficiaries from the Dhangar community, for which Rs 600 crore will be made available.

The state government also informed that a new housing scheme – ‘Modi Awas Gharkul Yojana’ – will be launched for construction of 10 lakh houses for beneficiaries from the Other Backward Classes in the next three years. An outlay of Rs 12,000 crore will be made available. Of these, 3 lakh houses will be completed in the year 2023-24 at a cost of Rs 3,600 crore, as per the budget.

Ram Raheja, managing director of S Raheja Realty, said, “…The 1 trillion dollar share of Maharashtra in the 5 trillion dollar Indian economy, as envisioned by the government, will see the real estate market as a solid contributor, due to consistent demand from home buyers, redevelopment projects, and commercial projects. Moreover, the growth brought by the mega infra projects, for which a sizable amount has been allocated, will raise the standards of living and sentiments of the people of Maharashtra.”

Meanwhile, the real estate sector has welcomed Budget 2023-24, in which the state government continued the 1% waiver on stamp duty fees for women home buyers. Fadnavis said women home buyers continue to be given 1% concession in stamp duty for the purchase of a residential unit. As per the existing condition, a woman cannot sell a residential unit to a male buyer for a period of 15 years. The said condition will also be relaxed, the state government said.

Nitin Bavisi, CFO at Ajmera Realty and Infra India Ltd, said, “Stamp duty for women homebuyers has been continued, which is a welcome move. It will encourage a sense of homeownership among women. The move towards boosting infrastructure and connectivity through Maharashtra will open up opportunities for various segments of real estate, comprising residential, retail, commercial and warehousing”.