Builders Seek Incentives in Housing Policy

We expect the govt to reduce the premium on affordable housing projects to zero Dominic Romell, President, Credai-MCHI

- Surendra P Gangan

MUMBAI: The state housing department has received over 2,000 suggestions and objections to its draft Housing Policy 2024, which is expected to be presented before the state cabinet in a couple of weeks, after incorporating recommendations by stakeholders from the sector.

The policy, drafted in October 2024, after a gap of over a decade, focuses on affordable housing, slum-free cities, rental housing, dedicated homes for the elderly, and aims to boost the concept of 'walk to work'. After the government's first policy in 2007 became redundant, the state attempted similar policies in 2015 and 2021, which did not see the light of day for want of cabinet approval.

On its latest endeavor, an official from the housing department said, "We are trying to accommodate as many recommendations in the draft. The bodies representing developers have demanded additional incentives, including TDR and FSI, apart from easing government red tape."