Maharashtra Lifts 16-Year Ban on Govt Land Allotment

The Maharashtra state government has decided to lift a 16-year ban on allotting government land to housing societies. This move is expected to provide a significant boost to the state's housing sector.

Under the proposed policy, government land will be auctioned to housing societies through a technical and financial bidding process. The society that offers the highest bid will be selected for the land allotment.

The base price for the land auction will be fixed at 2.5% of the land's market value in Mumbai city and its suburbs. In other parts of the state, the base price will be fixed at 5% of the land's market value.

This policy change is a significant development for housing societies in Maharashtra, which have been waiting for government land allotments for years. The state government's decision to lift the ban is expected to provide more opportunities for housing societies to acquire land and develop new projects.

The previous ban on government land allotment to housing societies was imposed 16 years ago, and since then, many housing societies have been struggling to find suitable land for their projects. With the ban now lifted, these societies can participate in the land auction process and acquire government land for their development projects.

The Maharashtra state government's decision to lift the ban is also expected to generate significant revenue for the state exchequer. The land auction process is expected to attract many bidders, which will drive up the prices and generate more revenue for the state government.

In recent years, the state government has been exploring various options to boost the housing sector in Maharashtra. The decision to lift the ban on government land allotment to housing societies is part of this effort. The state government hopes that this move will encourage more housing societies to develop new projects, which will help to address the state's housing shortage.

The lifting of the ban is a positive development for the state's housing sector, and it is expected to have a significant impact on the sector in the coming years. With more land available for development, housing societies can now plan and develop new projects, which will help to meet the state's growing housing demand.