Maharashtra housing and land policy developments

Legal and governmental actions in Maharashtra have addressed various aspects of housing and land policy. Judicial rulings have focused on developer accountability, with the Maharashtra Real Estate Regulatory Authority (MahaRERA) ordering a Mumbai developer to refund clubhouse membership fees after construction failed to materialize for over six years. Additionally, the Supreme Court affirmed the power of the Maharashtra Housing and Area Development Authority (MHADA) to enforce developer obligations regarding permanent alternate accommodation for residents of redeveloped buildings.

Following these legal developments, the state government introduced policy changes to manage housing costs and land compensation. The Deputy Chief Minister directed MHADA to reduce flat prices at the Chitalsar-Manpada project in Thane, utilizing older Ready Reckoner rates to ensure price uniformity. This adjustment applies to 434 existing allottees and will affect future lottery units.

Furthermore, the Maharashtra Cabinet approved an increase in interest rates for delayed land acquisition compensation, setting the rate at 1 percentage point above the prevailing RBI repo rate. The Cabinet also implemented fee reductions and stamp duty exemptions for land transfers specifically intended for renewable energy projects.