The recent controversy involving IAS officer Sanjeev Jaiswal at the Motilal Nagar public meeting has sharply divided public opinion in Mumbai. The episode is being viewed through multiple lenses, sparking debate not just about individual conduct but also about deeper issues of governance, language, and accountability in urban redevelopment projects.

The Divided Opinions

One section believes the protester was out of line—especially when the rehabilitation package on offer is highly favourable. Reports suggest that tenants occupying around 260 sq ft are being offered homes as large as 1,600 sq ft, making the opposition appear disproportionate.

Others, however, feel the IAS officer went too far. Their argument is simple: regardless of provocation, a senior public servant is expected to maintain composure. The tone and language used in response to a citizen holding a protest placard, they argue, crossed the limits of acceptable conduct in a public forum.

Political voices have now entered the debate, accusing the officer of overstepping boundaries. The result is a polarised Mumbai—one side insisting protesters must stay “within limits,” the other demanding the same from those in authority.

What is the Real “Limit”?

In a democracy, citizens have the right to protest peacefully. At the same time, such protests should ideally respect local sensitivities, including language and decorum.

However, the burden of restraint is not equal.

Government officers represent the state. They are expected to uphold a higher standard of conduct—marked by dignity, patience, and emotional control—even in challenging situations.

When either side fails to maintain this balance, confrontations like the one at Motilal Nagar become almost inevitable. The real issue, therefore, is not who crossed the line—but why the system allowed the situation to reach that point.

The Bigger Governance Vacuum

Beyond the immediate clash, the incident exposes a deeper institutional problem within MHADA.

For years, key leadership positions have remained vacant:

• MHADA President (the apex political head)
• MHADA Mumbai Board Chairman

These are not redundant posts. They exist precisely to bridge the gap between bureaucracy and public sentiment.

Had either of these positions been filled, it is highly likely that a political leader—not a bureaucrat—would have chaired such a sensitive public meeting.

Why the Long Delay in Appointments?

This raises a fundamental question for successive Maharashtra governments:

If these positions are so unimportant that the system can function without them for years, then they should be abolished altogether.

But if they serve a real purpose—bringing political accountability and public sensitivity into governance—then why have they remained vacant since 2019?

Across both the previous and current regimes, the failure to appoint individuals to these roles reflects a concerning lack of administrative priority.

This prolonged vacuum has consequences:

• Increased pressure on bureaucrats
• Reduced political accountability
• Greater disconnect between policy decisions and public sentiment

The Way Forward

Incidents like Motilal Nagar are not inevitable—they are preventable.

First, the government must immediately fill vacant leadership positions within MHADA. These roles exist for a reason and cannot remain symbolic placeholders.

Second, there is a need for clear guidelines governing public meetings—especially those involving redevelopment and rehabilitation. This should include protocols around protest management, communication standards, and acceptable conduct from both officials and citizens.

Finally, there must be a renewed emphasis on mutual respect:

• Citizens should protest constructively
• Officials must remember they are public servants, not authority figures above scrutiny

Conclusion

The Motilal Nagar episode is not just about one confrontation—it is a symptom of a larger governance gap.

An over-reliance on bureaucrats for politically sensitive roles, combined with a persistent leadership vacuum in key housing bodies, creates the perfect conditions for such conflicts.

The Maharashtra government must decide:
Either strengthen institutions through timely appointments—or accept that such controversies will continue to surface.

Because in the end, this is not just about one incident. It is about whether governance can truly bridge the gap between policy and people.

Also Read: Motilal Nagar Residents Oppose Adani, Claim MVA’s 2021 GR Favoured Developer Over Residents

The post Could We Have Avoided the Friday Motilal Nagar Incident? A Governance Failure Beyond One Clash appeared first on Square Feat India.

The proposed platform will focus on the development, ownership, and long-term operation of institutional-grade rental housing assets across major urban centres in India. The partnership aims to address the rising demand for professionally managed rental accommodation driven by rapid urbanisation, workforce mobility, and increasing student migration.

India’s rental housing market is undergoing a structural shift, with growing preference for organised and institutionally owned rental formats over fragmented individual ownership. The HDFC Capital–CLS platform intends to capitalise on this transition by creating scalable, high-quality rental housing portfolios catering to students, young professionals, and migrant workers.

CLS currently manages more than 13,000 beds across co-living, student housing, and worker accommodation segments and brings strong development and operational expertise to the platform. The partnership will combine CLS’s on-ground execution capabilities with HDFC Capital’s long-term capital and institutional investment approach.

Commenting on the development, Vipul Roongta, CEO of HDFC Capital, said that India’s urban rental housing segment is at an inflection point due to a young, mobile population. He added that rental housing plays a critical role in enhancing economic mobility, particularly for students, professionals, and migrant workers, and that CLS and the DivyaSree Group have demonstrated strong governance and execution capabilities.

Bhaskar Raju, Promoter of Curated Living Solutions and the DivyaSree Group, highlighted that the platform will focus on developing and owning high-quality rental housing assets with emphasis on safety, functional design, and sustainability. Jai Challa, CEO of Curated Living Solutions, noted that the partnership would enable CLS to significantly scale its operations and expand its presence across key Indian urban markets.

The initiative aligns with broader policy and investor interest in rental housing as a core asset class, alongside office, residential, and logistics, and reinforces the growing role of institutional capital in shaping India’s housing ecosystem.

Also Read: GRESB–CII IGBC Tie-Up to Boost Green Finance and Fast-Track India’s Net Zero Real Estate Transition

The post HDFC Capital Ties Up with DivyaSree-backed CLS to Launch ₹1,000 Cr Institutional Rental Housing Platform appeared first on Square Feat India.

India’s housing market stands at a critical inflection point. While luxury home sales are breaking records and property prices continue to rise, the foundation of inclusive growth — affordable housing — is steadily eroding. The risk is no longer theoretical. India is fast heading towards a two-tier housing market, where luxury homes flourish while millions of middle- and lower-income households are priced out of ownership altogether.

Union Budget 2026 could prove decisive. Without strong, targeted policy intervention, the affordability gap will only widen, making homeownership increasingly unattainable for a vast section of urban India.

The Market Paradox: Growth That Masks a Crisis

At first glance, residential real estate appears robust. According to ANAROCK Research, the total value of homes sold in 2025 touched nearly ₹6 lakh crore, marking a 6% year-on-year increase. Institutional investments in real estate also surged, reaching USD 8.9 billion in 2024, a sharp 51% rise over the previous year.

However, these headline numbers conceal a deeper structural problem.

While the value of sales rose, the number of homes sold declined by 14% in 2025. The growth is being driven almost entirely by the luxury segment. Luxury housing sales to HNIs, NRIs, and wealthy professionals jumped 170% in 2024, transforming homes into investment instruments and inflation hedges.

Affordable housing, meanwhile, has fallen into a prolonged slump.

Affordable Housing: From Backbone to Bottleneck

Affordable housing’s share of the residential market has plunged from 38% in 2019 to just 18% in 2025, according to ANAROCK Research. This is not a cyclical slowdown but a structural collapse.

In 2018, over 52% of new homes launched in India’s top seven cities were priced below ₹50 lakh. By 2025, that figure has shrunk to just 17%. In metros, homes under ₹50 lakh now account for only one in six new launches.

The consequence is a rapidly widening urban housing shortage. India currently faces a deficit of 9.4 million urban homes, a number that could escalate to 30 million units by 2030 without corrective policy measures.

The Homebuyer Squeeze Is Real

For ordinary households, affordability has deteriorated sharply. The EMI-to-income ratio for homebuyers has risen from 43% in 2020 to nearly 60% today, well above sustainable thresholds. For middle-income families, the ratio has climbed from 28% to 40% over the same period, driven by rising property prices and higher interest rates.

ANAROCK’s latest Consumer Sentiment Survey reveals the scale of the problem. In Bengaluru alone, 42% of prospective buyers seeking homes under ₹1 crore have been priced out, despite demand for budget housing rising 13% year-on-year.

This is not a matter of preference but of compulsion — buyers simply cannot afford what the market offers.

Why Developers Are Abandoning Affordable Housing

The crisis is not demand-driven. It is rooted in the economics of real estate development.

Affordable housing typically offers 10–12% margins, while luxury and premium projects yield 25–30% or more. With land prices soaring, construction costs for steel, cement, and skilled labour remaining elevated, and approval timelines growing longer, affordable projects have become financially unviable.

Developers are responding rationally. Many have rebranded mid-income projects as premium offerings or exited the affordable segment altogether.

Compounding the issue is an outdated policy framework. The current definition of affordable housing — capped at ₹45 lakh, a threshold fixed in 2017 — bears little resemblance to today’s market realities. In Mumbai’s peripheral areas, a modest 600 sq ft apartment now costs ₹60–75 lakh. Pune, Bengaluru, and Delhi-NCR face similar mismatches.

Worse, developers building within this outdated cap are denied critical tax benefits.

The Missing Incentive: Section 80-IBA

The 100% tax holiday under Section 80-IBA, which played a catalytic role between 2016 and 2021, expired four years ago and has not been revived.

During its tenure, Section 80-IBA bridged the margin gap between affordable and mid-income housing, encouraging widespread developer participation. Its absence has sharply curtailed new launches.

Each year without this incentive potentially leaves 1.5 million households unable to transition into formal homeownership, increasing financial exclusion and informal housing growth.

A time-bound revival of Section 80-IBA, applicable to projects approved over a 24–36 month window, would be fiscally defensible and immediately impactful.

Infrastructure: The Silent Catalyst

Where policy has lagged, infrastructure has advanced. Metro rail expansions, expressways, ring roads, airports, and logistics corridors have consistently unlocked new housing markets.

Cities like Bengaluru, Hyderabad, NCR, and Pune demonstrate a clear pattern: infrastructure precedes real estate growth. Improved connectivity opens peripheral areas, attracts developers, and makes housing more affordable through land availability.

Budget 2026 must accelerate last-mile urban infrastructure, particularly metro extensions, suburban rail, and peripheral connectivity, to expand the affordable housing footprint.

Redefining Affordability for Urban India

The ₹45 lakh affordability cap is no longer viable. Budget 2026 should revise these thresholds based on city-specific realities:

• Mumbai & MMR: ₹85 lakh
• Delhi-NCR, Bengaluru, Pune, Hyderabad: ₹75 lakh

These limits reflect actual land and construction costs, not luxury creep. Crucially, carpet area norms must remain unchanged to prevent misuse.

Raising the price cap while retaining size limits could double the affordable housing supply, increasing its share of new launches from 18% to over 40%.

Strengthening Homebuyer Support Through CLSS

The Credit-Linked Subsidy Scheme (CLSS), reintroduced under PMAY-U 2.0, remains underutilized. Budget 2026 should strengthen it by:

• Increasing subsidy rates to offset higher interest costs
• Raising loan limits to ₹8–10 lakh for EWS/LIG and ₹15–18 lakh for MIG
• Simplifying disbursement to ensure faster, frictionless delivery

An annual CLSS outlay of ₹10,000–15,000 crore could support 1.5–2 million first-time buyers over five years — a direct, targeted intervention.

Budget 2026: A Defining Moment

India’s housing market stands at a crossroads. One path leads to deepening inequality — luxury homes for the wealthy and shrinking ownership for the middle class. The other promises balanced, inclusive growth powered by affordable housing, infrastructure, and smart incentives.

The policy tools are known. The need is urgent. Budget 2026 must act decisively, or the cost of inaction will be borne by millions of Indian families locked out of homeownership.

Also Read: 35 Lakh Homes, ₹50 Lakh Crore Investment: Maharashtra Unveils Massive Housing Push for MMR

The post How Budget 2026 Can Revive Affordable Housing in India appeared first on Square Feat India.

The redevelopment site is located in Shastri Nagar, an area originally developed by Ajmera Group. The company aims to leverage its existing presence in the region, reinforcing brand recognition while expanding its footprint in Mumbai’s growing micro-markets. The project will add an estimated 71,300 square feet of carpet area to the city’s housing stock.

Ajmera Realty has been expanding its portfolio through asset-light acquisitions and redevelopment projects, aligning with its broader strategy of inorganic growth. With this latest addition, the company has added four new projects with a total estimated value of ₹2,770 crores, moving closer to its fiscal growth targets.

Shastri Nagar is well-connected to key commercial and residential hubs in Mumbai, benefiting from metro connectivity, educational institutions, healthcare facilities, and retail centers. The company expects this location to attract homebuyers looking for modern urban living with accessibility to business districts.

Ajmera Realty Director, Dhaval Ajmera, said the redevelopment aligns with the company’s focus on revitalizing high-potential micro-markets through joint ventures (JV), joint development agreements (JDA), and redevelopment models. The company aims to enhance existing residential assets by upgrading infrastructure and creating modern living spaces.

SFI Analysis

Ajmera Realty’s focus on redevelopment projects highlights a growing trend in Mumbai’s real estate sector, where land scarcity and rising demand are driving large-scale redevelopment initiatives. By taking on projects in established residential areas like Andheri West, developers can cater to homebuyers seeking upgraded living spaces without moving away from prime locations.

The company’s asset-light strategy through JV and JDA models allows it to expand without significant capital investment, reducing financial risk. With multiple projects added to its pipeline, Ajmera Realty is positioning itself as a key player in Mumbai’s redevelopment landscape, competing with other firms capitalizing on the city’s aging housing stock.

Also Read: CREDAI-MCHI Launches Exhibition to Streamline Redevelopment in Mumbai

The post Ajmera Realty Secures Redevelopment Project in Andheri West, Targets ₹320 Crore Revenue appeared first on Square Feat India.

Panorama spans 100 acres, with the first phase covering 50 acres and featuring 539 plots ranging from 1,200 sq. ft. to 7,000 sq. ft. Phase 1 is expected to be completed by December 2027, with further phases planned for the future.

The project is designed to reflect the cultural heritage of Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Kerala, integrating regional architectural elements with modern infrastructure. The development is centered around the Pancha Bhutas (Five Elements of Nature) – Earth, Water, Fire, Air, and Space – promoting sustainable living.

Madhusudhan G, CMD of Sumadhura Group, stated that the strong market response highlights the growing demand for custom-built homes and the appeal of plotted development as an investment. He emphasized that Devanahalli was chosen for its strategic location, growth potential, and robust infrastructure.

Devanahalli has been a key real estate hub, accounting for approximately 15% of North Bengaluru’s residential supply from 2016 to 2023, with 13,600 units supplied in that period, according to a study by property consultancy firm Anarock.

Panorama will feature a 45,000 sq. ft. premium clubhouse offering sports, recreation, and leisure facilities. The project will also include cycling infrastructure, a soccer ground, indigenous plantings, community spaces, party lawns, and a camping zone to enhance resident engagement and lifestyle.

Sumadhura Group aims to expand its presence in plotted development while continuing its focus on urban real estate projects.

Also Read: Bengaluru property market

The post Sumadhura Group Enters Plotted Development Sector with ₹1,500 Crore Project in Bengaluru appeared first on Square Feat India.

Industry Reactions:

Prashant Sharma, President, NAREDCO Maharashtra:
“The approval of PMAY-U 2.0 by the Union Cabinet represents a major advancement in meeting the housing needs of our urban population, especially for economically weaker sections and middle-class families. With a robust target to assist one crore families and a substantial investment of ₹10 lakh crore, this initiative underscores the government’s steadfast commitment to housing for all. This scheme not only aims to improve the quality of life for millions but also serves as a catalyst for growth in the real estate sector, driving job creation and economic resilience. By channeling financial assistance through states, union territories, and public lending institutions, PMAY-U 2.0 enhances collaboration between the government and private sector, essential for inclusive urban development. The focus on affordability and accessibility ensures that urban housing remains within reach for those most in need. It is crucial that the implementation of this scheme is efficient, ensuring timely delivery of benefits to the intended beneficiaries. This initiative, reflecting the vision of the Hon’ble Prime Minister, sets a new standard for future urban development.”

Pritam Chivukula, Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty:
“We commend the Government for the decisive approval of Pradhan Mantri Awas Yojana-Urban 2.0, a significant milestone in fostering inclusive urban development. This initiative not only promises to transform the urban landscape but also makes the dream of homeownership attainable for urban poor and middle-class families. The comprehensive financial support of ₹2.30 lakh crore demonstrates a strong commitment to addressing housing shortages and improving living standards across urban areas. This scheme is expected to invigorate the sector, create numerous job opportunities, and stimulate economic activity in related industries, promoting holistic urban development.”

Rajeev Ranjan, Co-Founder & CEO, The Mentors Real Estate Advisory Pvt Ltd:
“The approval of PMAY-U 2.0 by the Union Cabinet marks a significant advancement in addressing the housing needs of urban poor and middle-class families across India. With an ambitious target to support one crore households and an investment of ₹10 lakh crore, this scheme highlights the Government’s dedication to providing affordable housing. By focusing on affordable housing, the initiative is poised to boost demand in the sector and foster innovative housing solutions through partnerships between the public and private sectors. The scheme not only aims to enhance the quality of life for millions but also contributes to broader urban development and economic growth.”

Also Read: Real Estate Sector welcomes LTCG tax amendment

The post Union Cabinet Approves PMAY-U 2.0: ₹10 Lakh Crore Boost for Urban Housing appeared first on Square Feat India.