Maharashtra: Eknath Shinde proposes new policy to protect residents in redevelopment projects; mandates 3 years’ rent upfront from builders

Maharashtra: Eknath Shinde proposes new policy to protect residents in redevelopment projects; mandates 3 years’ rent upfront from builders

Maharashtra's housing department is introducing a new policy requiring developers to deposit three years' rent upfront for redevelopment projects. This measure aims to prevent stalled projects and protect residents from displacement without compensation. The state also plans to collaborate with cash-rich government agencies to boost housing development.