Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000
The Maharashtra government has finalised the Housing Policy 2025, introducing significant incentives for senior living housing projects. Under the new policy, stamp duty for buyers of such properties has been reduced to a flat ₹1,000, down from the current 5% to 7% of the property's value, depending on the location.
In addition to the reduced stamp duty, the government will offer property tax concessions for owners of senior living homes. Developers of these projects will also benefit from various tax relaxations and enhanced Floor Space Index (FSI) allowances.
This is Maharashtra's first comprehensive housing policy in nearly two decades. Announced last week, it addresses modern housing concepts such as senior citizen housing and student accommodation, aiming to promote inclusive and future-ready urban development.
As part of the Maharashtra Housing Policy 2025, the state government plans to redevelop ageing and dilapidated old-age homes and orphanages located on government land. These facilities will be upgraded and integrated with senior citizen housing projects to better accommodate the growing elderly population.
According to the policy, Maharashtra's elderly population accounted for around 10% of the total as per the 2011 Census, higher than the national average. This figure is projected to rise significantly, reaching 17% by 2036.
The policy also highlights a shift in social structure, noting that joint families are increasingly giving way to nuclear households, creating a greater demand for independent senior living facilities. The government sees this redevelopment as a crucial step toward addressing the evolving housing and care needs of the elderly.
Also Read: Maharashtra approves new housing policy after nearly two decades: 5 key highlights
According to market sources, leading real estate developers such as Rustomjee Group and Dosti Realty are preparing to launch dedicated senior living housing projects in Maharashtra in the coming months.
To promote this segment, the Maharashtra government, under its Unified Development Control and Promotion Regulations (UDCPR), has introduced a separate category for senior citizen housing or retirement homes. These guidelines are part of the recently announced Maharashtra Housing Policy 2025, which aims to foster inclusive and age-friendly urban development.
These measures aim to attract private investment into the senior housing sector while ensuring that the needs of elderly residents are met through thoughtful planning and infrastructure.
Also Read: Dharavi redevelopment project gets a push as master plan receives Maharashtra government's approval
Real estate developers have welcomed the Maharashtra government's new housing policy, particularly the relaxations and incentives for senior and student housing.
They see the move as a progressive step toward addressing the evolving housing needs of specific demographic groups while encouraging private sector participation in these emerging segments.
'Addressing the growing demand for elderly-friendly housing is the need of the hour, and the Maharashtra government's new housing policy has a special mention of this. These actions will help the growth of senior living projects by making development more viable and attractive. Our understanding is that these policy reforms will benefit senior living housing projects in Maharashtra and set a benchmark through thoughtfully designed and well-supported developments," said Anuj Goradia, director of Mumbai-based Dosti Realty.
Also Read: Rustomjee Group plans to launch senior living and plotted development projects: Boman Irani
The apex body of real estate developers, CREDAI-MCHI, has also welcomed the policy.
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