Policy Tweak to Support Affordable Housing

The 10% discounted sand quota for Pradhan Mantri Awas Yojana (PMAY) and other government housing schemes will continue, ensuring that affordable housing projects receive sand at concessional rates.

Under the earlier system, contractors were required to supply 10% of their excavated sand at a nominal price to PMAY projects—often absorbing the cost themselves. This discouraged participation in auctions and led to supply bottlenecks.

The new policy changes this by revising the “upset price” calculation. Now, upset price will be determined as:

90% of total excavable sand × prevailing market price

This ensures the discounted quota is factored in upfront, protecting contractor margins while maintaining concessional supply for affordable housing. It’s expected to keep construction costs stable for government-backed projects, benefiting low- and middle-income homebuyers.

Shorter Lease Periods for Environmental Protection

One of the most notable reforms is the reduction of sand auction lease periods from 2–3 years to just 1 year for both river and creek sand blocks.

Earlier, contractors often over-extracted sand after the first year, leading to:

• Depletion of riverbeds,
• Illegal mining beyond approved limits, and
• Revenue loss for the state.

By capping leases at 1 year, the government aims to:

• Improve environmental monitoring,
• Prevent over-extraction and stockpiling,
• Reset auction prices annually to reflect market conditions.

Centralized e-Auctions for Transparency

The policy introduces annual e-auctions to bring greater transparency and efficiency:

• For river sand, one combined e-auction per sub-division will be held annually.
• For creek sand, the Maharashtra Maritime Board will conduct block-wise e-auctions.

This centralized approach is expected to curb cartelisation, reduce manipulation, and ensure fair competition among bidders.

Key Policy Changes at a Glance

Why It Matters for the Common Man

For homebuyers, especially those looking at PMAY or EWS housing, this policy ensures that project costs remain contained, as sand remains available at concessional rates.

For individual home builders, annual auctions and transparent pricing could mean more stable sand prices and less dependence on black-market sand, which often inflates construction costs.

Environmentally, shorter leases are expected to reduce over-mining pressure on river systems, aligning the policy with sustainable resource use.

Also Read: Why Are Thousands Rushing to Apply for the MHADA Konkan Lottery

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The process was officially inaugurated on September 11, 2025, in a ‘Go-Live’ programme led by the Chairman of the Pune Board, Shri Shivajirao Adhalrao Patil. The online application registration and payment system commenced at 12:30 PM the same day.

Applicants have until 11:59 PM on October 31, 2025, to complete their registration and submit payments online. For those paying via RTGS/NEFT, the deadline is the close of banking hours on November 1, 2025.

Following the application period, a provisional list of accepted applicants will be published on the MHADA website on November 11, 2025. A window to file objections will be open until noon on November 13, 2025. The final list of eligible applicants will be released on November 17, 2025, ahead of the computerized lottery draw, which is scheduled for November 21, 2025.

The 4,186 available units are divided into several schemes:

• 1,683 units under the “First Come, First Serve” MHADA Housing Scheme.
• 299 units under the “First Come, First Serve” Pradhan Mantri Awas Yojana (Urban).
• 864 units under the 15% Inclusive Housing Scheme in the PMRDA region.
• 3,222 units under the 20% Inclusive Housing Scheme across Pune Municipal Corporation, Pimpri-Chinchwad Municipal Corporation, and PMRDA jurisdictions.

Pune Board Chief Officer, Shri Rahul Sakore, urged all applicants to carefully review the information booklet on the official MHADA website (https://housing.mhada.gov.in) before applying. He also issued a strong warning, clarifying that MHADA has not appointed any representatives, consultants, or property agents for the housing lottery. He stressed that the Pune Board will not be responsible for any fraudulent transactions and advised applicants to refrain from engaging with any unauthorized individuals. For any assistance, applicants can contact the official helpline at 022-69468100.

Also Read: MHADA Announces New Lottery Date for Mumbai

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Key Findings of the Report

According to NHB, as of September 30, 2024, the total outstanding individual housing loans in India reached ₹33.53 lakh crore, marking a 14% year-on-year (YoY) increase. The report attributes this rise to growing urbanization, policy support, and an expanding mortgage market.

• Loan Disbursements: During the half-year ending September 30, 2024, ₹4.10 lakh crore in housing loans were disbursed, contributing to a total of ₹9.07 lakh crore disbursed in the financial year 2023-24.
• Segment-wise Loan Distribution: Affordable housing dominated, with the Economically Weaker Section (EWS) and Low-Income Group (LIG) segments accounting for 39% of outstanding housing loans. The Middle-Income Group (MIG) comprised 44%, while the High-Income Group (HIG) made up 17%.
• Housing Price Index (HPI) Trends: The NHB-RESIDEX index recorded a 6.8% YoY increase in housing prices as of September 2024, compared to a 4.9% rise in the previous year.

Government Initiatives Driving Growth

The NHB report highlights the impact of major government schemes such as the Pradhan Mantri Awas Yojana (PMAY-U and PMAY-G), the Affordable Rental Housing Complexes (ARHC) scheme, and the Urban Infrastructure Development Fund (UIDF). The anticipated rollout of PMAY 2.0 and the increased focus on transit-oriented development are expected to sustain sectoral growth.

Challenges and Future Prospects

While the housing sector has witnessed robust expansion, the report underscores challenges such as regional disparities in credit access, affordability concerns, and climate-related risks. However, advancements in construction technology, digitization of land records, and policy support provide promising avenues for continued growth.

SFI Analysis:

The NHB report reaffirms the strength of India’s housing sector as a key driver of economic growth. The 14% YoY surge in individual housing loans indicates a resilient demand for homeownership, supported by affordable financing options and government incentives. The dominance of the MIG and affordable housing segments underscores the growing aspirations of India’s middle class. Additionally, the 6.8% rise in housing prices suggests sustained investor interest and confidence in real estate. However, ensuring equitable credit access across regions and mitigating economic uncertainties remain critical for long-term stability. Moving forward, integrating technology-driven solutions and sustainable housing practices will be pivotal in shaping India’s housing market trajectory.

Also Read: Seeking A Housing Loan? Read This New RBI Policy

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Affordable housing, once the darling of India’s real estate sector, is now languishing in the shadows. Just a few years ago, it was a key focus area for developers and the government alike. Smaller unit sizes and government incentives under the ‘Housing for All’ program made this segment the cornerstone of India’s housing narrative. Yet today, affordable housing is grappling with declining supply and demand.

The numbers tell the story. In 2018 and 2019, affordable housing constituted nearly 40% of total residential supply across major cities like Pune, Kolkata, Chennai, and NCR. However, its share shrank to a mere 16% in 2024. This stark decline underscores the urgent need for a policy-driven revival, with the Union Budget 2025-26 serving as a potential turning point.

Pandemic and Changing Buyer Preferences

The COVID-19 pandemic drastically altered homebuying preferences in India. Post-pandemic, buyers began prioritizing larger, multifunctional homes with lifestyle amenities. Compact homes, once the backbone of affordable housing, lost their appeal as people sought spaces that could double as residences and workplaces.

At the same time, the segment’s primary customer base—blue-collar workers and early-career professionals—found themselves cash-strapped. For many, homeownership was replaced by the immediate need for affordable rentals, especially as businesses resumed in-office work.

Supply Shrinking Across Cities

The dwindling interest in affordable housing has forced developers to pivot to more profitable ventures. Rising input costs for land, labor, and materials have further eroded margins, making affordable housing a less attractive proposition. Consequently, developers have shifted focus to larger units with lifestyle amenities, which continue to sell well.

According to ANAROCK research, cities like Bangalore, Chennai, and Hyderabad have seen a sharp decline in affordable housing supply. In 2024, Bangalore reported no new supply in this segment, while Hyderabad and Chennai recorded just 2%. The only cities showing significant activity are Kolkata and MMR, with 31% of their upcoming supply priced under INR 40 lakh.

NCR, which once led the affordable housing segment with a 62% share in 2020, saw its share plunge to just 11% in 2024. Meanwhile, the region has shifted its focus to high-end and luxury housing, with residential sales valued at INR 90,000 crore in 2024—a 32% increase from the previous year.

The Role of PMAY

The Pradhan Mantri Awaas Yojana (PMAY – Urban) has been a cornerstone of the government’s affordable housing initiative. Since its launch in 2015, over 118.64 lakh homes have been sanctioned, with 90.22 lakh units completed as of January 2025. Central assistance of INR 2 lakh crore has been committed to date.

Despite its progress, PMAY faces challenges that need urgent attention. The lack of proper land records continues to hinder eligibility for subsidies. Additionally, the adoption of new, cost-effective construction technologies could help fast-track mass housing projects.

As the Union Budget 2025-26 approaches, it is anticipated that PMAY will receive renewed focus. Creative solutions and decisive policymaking could reinvigorate this flagship program, bringing affordable housing back into the spotlight.

Hope for a Revival?

The tapering demand for luxury housing could pave the way for a resurgence in affordable housing. Rising costs in the luxury segment may lead to a natural correction, creating opportunities for affordable housing to regain its footing.

Budget 2025-26 could play a decisive role in this revival. Substantial announcements aimed at revitalizing the affordable housing sector—be it through incentives, subsidies, or infrastructure support—could set the stage for growth.

A balanced housing market is one that caters to all segments of society, not just the affluent. Affordable housing remains crucial to addressing the needs of India’s growing population and ensuring equitable urban development.

The upcoming budget could well determine whether the affordable housing segment stages a comeback—or continues to be an afterthought in India’s real estate story.

Also Read: affordable homes in Maharashtra

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In response to requests from applicants, CIDCO has extended the deadline for online registration until December 26, 2024, to allow more time for citizens to complete the registration process and gather necessary documents. The extension aims to accommodate the large number of interested applicants and ensure a smooth registration experience.

The scheme offers 26,000 affordable tenements under the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories as part of the Pradhan Mantri Awas Yojana (PMAY). These homes are located in prime nodes across Navi Mumbai, including Vashi, Bamandongri, Kharkopar, Kharghar (W), Kharghar (E), Taloja, Mansarovar, Khandeshwar, Panvel, and Kalamboli. The homes promise an enriched lifestyle with excellent infrastructure, connectivity, and quality construction, making them an attractive option for those seeking affordable housing in the region.

CIDCO has also relaxed several conditions to ease the registration process, including the requirement for barcoded Domicile Certificates and notarized affidavits. These changes have allowed a larger number of citizens to apply more conveniently.

To facilitate registration, CIDCO has set up a dedicated website for the scheme: http://cidcohomes.com/. For more details or assistance with the registration process, applicants can contact the helpline at 9930870000. CIDCO is also regularly updating information about the scheme on its official social media channels.

The achievement of 1,00,000 applications reflects public recognition of CIDCO’s credibility and contributions to the housing sector, and the authority is confident that the momentum will continue until the final registration deadline.

Also Read: CIDCO lottery for homes

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The Konkan Housing and Area Development Board of MHADA has initiated a large-scale campaign to promote the sale of flats under the First-Come, First-Serve (FCFS) scheme. These flats are available for Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG) under the Pradhan Mantri Awas Yojana (PMAY-Urban). The flats are located in Virar-Bolinj, Khoni-Kalyan, Shirdhon-Kalyan, Gotheghar-Thane, and Bhandarli-Thane.

As part of this campaign, 29 information stalls have been set up at key locations across the region from December 2 to December 11, 2024. The stalls will provide detailed information about the available flats, application eligibility, and the online registration process. Applicants can apply through the official MHADA website (https://lottery.mhada.gov.in). The registration process began on October 11, 2024.

Campaign Details
Mrs. Revati Gaykar, Chief Officer of the Konkan Board, highlighted that the stalls aim to assist prospective buyers by offering information on the FCFS flats, eligibility criteria, and the application process. In addition to the stalls, flyers and street plays are being organized to raise awareness about the housing schemes.

Message to Applicants
Mr. Anil Wankhade, Deputy Chief Officer of MHADA, encouraged potential applicants to take advantage of the campaign’s support services. This initiative is part of MHADA’s ongoing efforts to sell unsold flats across Maharashtra, as directed by MHADA Vice-President and CEO, Mr. Sanjeev Jaiswal.

Stall Locations
The stalls are strategically placed at various government offices and public locations. These include the head offices of municipal corporations in Vasai-Virar, Mira-Bhayandar, Ulhasnagar, Navi Mumbai, Kalyan-Dombivli, Thane, and Palghar. Additionally, stalls are available at district collector offices in Palghar and Thane, the Thane RTO, subdivision offices in Vasai, Ulhasnagar, Palghar, and Kalyan, and the tehsildar’s office in Ambernath. Other prominent locations include the Mahape MIDC administrative office, the Jivdani Devi Temple in Virar, churches in Virar and Vasai, and major railway stations in Virar, Vasai, Thane, Badlapur, Ambernath, Ulhasnagar, Vashi, Panvel, Dombivli, Karjat, and Kalyan.

Support at the Stalls
Each stall is staffed by Konkan Board representatives who provide comprehensive guidance on the housing schemes, eligibility, and the online application process. They assist with document requirements and help resolve any application-related issues immediately. For further support, a dedicated team at the MHADA office is available for coordination.

Project Features
Mr. Mahesh Jeswani, Chief Engineer at MHADA, stated that all the projects under the FCFS scheme are equipped with essential facilities, including 24-hour water supply, firefighting systems, lifts, and common areas. In addition, each housing complex will have sewage treatment plants and organic waste converters.

Available Flats Under the FCFS Scheme

• Virar Bolinj: 174 (PMAY)
• Virar Bolinj: 4,164
• Khoni-Kalyan: 2,621 (PMAY)
• Shirdhon-Kalyan: 5,774 (PMAY)
• Gotheghar-Thane: 701 (PMAY)
• Bhandarli-Thane: 613 (PMAY)

Also Read: MHADA Konkan Board Directs Developer to Cease Additional Fees for EWS Flat Winners in Dhokali

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Launched on October 11, 2024, the scheme offers 26,000 affordable housing units under the Pradhan Mantri Awas Yojana (PMAY) for Economically Weaker Section (EWS) and Lower Income Group (LIG) categories. These units are located at various nodes in Navi Mumbai, including Vashi, Bamandongri, Kharkopar, Kharghar, Taloja Mansarovar, Khandeshwar, Panvel, and Kalamboli. Applicants have the unique opportunity to select the tenement of their choice.

The scheme offers affordable prices along with the chance to live in Navi Mumbai, known for its excellent infrastructure, connectivity, and quality construction.

To assist applicants, the online registration deadline has been extended, giving them more time to collect necessary documents such as Income and Domicile Certificates. Additionally, the requirement for a barcoded Domicile Certificate has been relaxed, allowing applicants to submit a non-barcoded certificate during registration. However, a barcoded certificate will be required before the allotment letter is issued. The need for an affidavit on Rs.100 or Rs.500 stamp paper has also been relaxed, with applicants now allowed to submit a self-attested affidavit on plain paper.

CIDCO urges eligible applicants to apply for the scheme before the extended deadline to secure their chance of owning a home in Navi Mumbai.

Also Read: Godrej Properties Acquires 3 Plots in Kharghar, But Many of 47 Auctioned by CIDCO Remain Untaken

The post CIDCO’s Scheme Receives 92,000 Applications for 26,000 Homes appeared first on Square Feat India.

PMAY (Urban) is designed to ensure that low- and middle-income families have access to affordable housing in India’s rapidly growing urban centers. The scheme offers financial subsidies from both the state and central governments, making homeownership more attainable for many. With this fresh allocation, the Maharashtra government anticipates significant progress in delivering quality housing solutions to its citizens.

To qualify for the PMAY benefits, applicants must meet specific eligibility criteria, the most crucial being that they must not own any residential property anywhere in the country. This stipulation aims to prioritize assistance for those truly in need of housing support.

The implementation of PMAY (Urban) 2.0 is expected to address the acute housing shortages faced by urban residents, promote inclusive growth, and contribute to the overall development of urban infrastructure in Maharashtra. As the government moves forward with this ambitious initiative, it seeks to create sustainable living environments that can uplift communities and improve the quality of life for countless families across the state.

Also Read: Union Cabinet Approves PMAY-U 2.0: ₹10 Lakh Crore Boost for Urban Housing

The post Maharashtra Government Allocates ₹8,100 Crore for PMAY (Urban) 2.0 appeared first on Square Feat India.

Important Dates and Times:

• Registration Start: October 10, 2024, at 12:00 PM
• Registration End: November 12, 2024, at 5:00 PM
• EMD Submission Deadline: November 12, 2024, by 11:59 PM
• RTGS/NEFT Payment Deadline: November 13, 2024, until 3:00 PM
• Provisional List Publication: November 23, 2024, at 7:00 PM
• Objection Period for Provisional List: Until November 27, 2024, at 5:00 PM
• Final List Publication: November 30, 2024
• Lottery Date: December 5, 2024

The online registration and application process will commence on October 10, 2024, at 12:00 PM, coinciding with the launch of online payment options. Interested applicants must complete their registrations before the deadline on November 12, 2024, and can make payments until November 13, 2024.

The lottery features five categories of housing units. The First-Come, First-Served (FCFS) Scheme will offer 2,340 units for sale, while 93 units will be available under the MHADA Housing Scheme. Additionally, 418 units under the Pradhan Mantri Awas Yojana (PMAY) will also be offered on a first-come, first-served basis. Moreover, 3,312 housing units under the 20% Comprehensive Housing Scheme will be available in the Pune Municipal Corporation, Pimpri-Chinchwad Municipal Corporation, and PMRDA areas, along with 131 units under the 15% Social Housing Scheme.

Prospective applicants are encouraged to review the information booklet available on MHADA’s official website at housing.mhada.gov.in before registering. Importantly, MHADA has not appointed any agents or consultants for this lottery, and applicants are warned against engaging with unauthorized individuals to avoid fraudulent transactions.

Also Read: MHADA to Announce Lottery for 11,000-12,000 Homes on Wednesday

The post MHADA Pune Board Announces Lottery for 6,294 Homes appeared first on Square Feat India.

The housing project will be developed on a 46-acre plot situated on the Thane-Bhiwandi highway, approximately 9 kilometers from the Thane railway station. The Maharashtra Housing and Area Development Authority (MHADA) will oversee the implementation of the scheme.

Each home under this project will cover an area of 500 square feet and is expected to cost up to ₹25 lakh. However, the dabbawalas have requested a reduction in prices, and the state government is currently considering this request.

The initiative is part of a broader effort to address housing needs for lower-income groups and aims to offer affordable living options to those who play a crucial role in Mumbai’s daily life. The project is expected to significantly benefit the dabbawalas by providing them with secure, reasonably priced housing.

This scheme reflects the ongoing commitment of the Maharashtra government to improving living conditions for essential service providers and ensuring equitable access to affordable housing in the region.

Also Read: NRI Asks: Is ₹1.25 Crore Enough to Settle in India? Reddit Responses Highlight Affordable Cities and Challenges

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