October 14, 2025: To protect residents affected by stalled redevelopment projects, Maharashtra Deputy Chief Minister Eknath Shinde on Saturday announced a new policy requiring developers to deposit three years’ rent before starting any redevelopment work. The move aims to ensure that residents are not displaced without financial support or left waiting indefinitely for project completion.
“Some builders take on redevelopment projects, vacate residents from flats, fail to pay rent or delay construction, sometimes even trading rights with other developers, which leads to stalled projects and inconvenience for residents,” Shinde said. “To address this, we are introducing a policy where builders must deposit three years’ rent upfront, while their project execution capability will also be simultaneously assessed before approval,” he added, speaking at a lottery event for over 5,000 MHADA flats from the Konkan region in Thane.
Shinde emphasised that the state is committed to reviving stalled projects. “We are aligning with cash-rich government agencies that have a reputation for completing projects on time and, through combined investment with private developers, are expecting to raise Rs 50 lakh crore over the next five years and construct 35 lakh homes in the state,” he said.
He further stated that Maharashtra is formulating a pioneering housing policy for senior citizens, potentially the first of its kind in India. The government also plans to boost affordable housing to support working women, mill workers, and migrant labourers who often struggle with high rental costs in the open market.
Source: The Times of India
