Welcome to Maharashtra, a land of diversity and contrasts. From the busy streets of Mumbai, India’s financial capital, to the serene beaches of Alibaug, Maharashtra offers a blend of urban sophistication and natural beauty. The state is also home to historic landmarks like the Ajanta and Ellora caves, showcasing its rich history and culture.
Maharashtra is a land of opportunities and growth. With thriving industries, world-class educational institutions, and a strong entrepreneurial spirit, Maharashtra is at the forefront of India’s economic development.
Owning a plot in Maharashtra means being a part of this state, which brings comfort, luxury, and ample opportunities. This article will guide you through the various plot schemes in Maharashtra and how you can benefit from them.
Benefits of Taking Plots in Maharashtra
Taking a plot in Maharashtra can be beneficial for several reasons;
- Maharashtra is one of India’s most economically prosperous states and accounts for around 12.9% of India’s Gross Domestic Product (GDP), offering a wide range of job opportunities and a thriving business environment.
- Maharashtra’s real estate market has shown a 21% growth over the years, making it a profitable investment option.
- The state has well-developed infrastructure, including modern transportation networks, healthcare facilities, and educational institutions.
- The state offers a high quality of life, with a pleasant climate, cosmopolitan cities, and a wide range of recreational and cultural activities
Various Plot Schemes in Maharashtra
Plot schemes in Maharashtra offer various opportunities for individuals and businesses interested in acquiring land for residential, commercial, or industrial purposes.
The state, known for its high demand urban centers like Mumbai, Pune, Nagpur, and Nashik, among others, provides various avenues through government bodies like the Maharashtra Housing and Area Development Authority (MHADA), City and Industrial Development Corporation (CIDCO), and Maharashtra Industrial Development Corporation (MIDC), as well as through private developments.
Maharashtra Housing and Area Development Authority (MHADA)
MHADA, the Maharashtra Housing and Area Development Authority, offers affordable housing through a lottery system. A portion of the available homes is allocated for this purpose, with allotments based on income levels.
For instance, MHADA Mumbai’s 2019 scheme included 1,300 homes ranging from INR 14.6 lakh to INR 5.8 crore. Among these, 63 apartments under INR 20 Lakhs were reserved for Economically Weaker Section (EWS) applicants, 126 flats priced between INR 20 Lakhs and INR 30 Lakhs were for Low-Income Group (LIG) applicants, 201 flats up to INR 60 Lakhs were allocated for Middle-Income Group (MIG) applicants, and 194 flats priced up to INR 5.8 crore were designated for High-Income Group (HIG) applicants.
Key features of the scheme include:
- MHADA caters to the housing needs of around 7.50 lakh families in Maharashtra.
- It has built over 2.5 lakh residences in Mumbai.
- MHADA oversees seven Regional Housing Boards in Mumbai, Pune, Konkan, Nagpur, Nashik, Amravati, and Aurangabad, managing activities across diverse regions of Maharashtra.
| Beneficiaries | Domicile of Maharashtra |
| Official Website | https://www.mhada.gov.in/en/affordable-housing |
| Plot Type | Residential |
| Documents Required to Apply | Passport size photographs, PAN Card, Aadhar Card, Driving License, Voter ID, Birth Certificate, Bank Passbook/Copies of Bank Statements |
CIDCO Housing Scheme
CIDCO, the City and Industrial Development Corporation of Maharashtra Limited was established by the Maharashtra government on March 17, 1970. It is recognized as the country’s premier town planning agency.
CIDCO’s mission is to “provide physical and social services that elevate living standards and diminish disparities in the amenities accessible to various segments of the population”.
Additionally, CIDCO provides training and facilities to the local population in the Project Area, helping them adapt to the new urban environment and actively participate in its economic and social life.
Therefore, CIDCO housing is consistently in demand. Presently, CIDCO is accepting online registrations for 5,730 houses for the economically weaker section (EWS) and the general category in the Taloja node of Navi Mumbai.
Key Features of the scheme are:
- CIDCO is offering 3,322 units in Taloja and Dronagiri through its Mass Housing Scheme January 2024, targeting the Economically Weaker Section (EWS) income group.
- Registration for the CIDCO lottery began on January 26, 2024, with online applications opening on January 30, 2024.
- Earnest deposit money (EMD) for EWS and LIG categories is INR 75,000, while for the general category, it is INR 1,50,000. Additionally, applicants must pay INR 250 as the application fee and INR 45 as GST.
| Beneficiaries | Domicile of Maharshtra |
| Official Website | https://cidco.maharashtra.gov.in/ |
| Plot Type | Residential, Commercial |
| Documents Required to Apply | Passport size photographs, PAN Card, Aadhar Card, Income Certificate, Domicile Certificate, Cancelled Cheque |
MIDC Industrial Plot Scheme
The Maharashtra Industrial Development Corporation (MIDC) is the primary Investment Promotion agency under the Government of Maharashtra. It focuses on providing essential infrastructure to businesses, including land, roads, water supply, drainage facilities, and street lights.
Key features of the scheme are:
- MIDC has developed 233 industrial areas across Maharashtra, covering 53,120 hectares of land.
- With 45 years of experience, MIDC has identified industries that require specialized facilities.
- To promote industry growth, MIDC has developed specialized parks and industrial clusters with infrastructure tailored to specific needs, including IT & BT Parks, Wine Parks, Textile Parks, Chemical Zones, Food Parks, Leather Park, Floriculture Park, and Electronic Zone.
| Beneficiaries | Domicile of Maharashtra |
| Official Website | https://services.midcindia.org/services/VacantPlotsDetails.aspx |
| Plot Type | Industrial |
| Documents Required to Apply | PhotographCopy of PAN CardScheduled Caste declarationPersons with disability declarationProject reportCA Certificate of past performanceCA Certificate of resources of applicant/promoters |
Private Developers Schemes in Maharashtra
There are several private developers running plot schemes in Maharashtra. Some of the prominent ones include:
Godrej Properties: Known for projects like Godrej City Panvel and Godrej Elements.These projects are operational in Mumbai, Nagpur, and Pune.
Hiranandani Developers: Known for projects like Hiranandani Gardens and Hiranandani Fortune City in Mumbai and Pune.
Tata Housing Development Company: Known for projects like Tata Serein and Tata Amantra in Mumbai and Pune.
DLF Limited: Known for projects like DLF Regal Gardens and DLF Camellias in the city of pune.
Plot Schemes in Maharashtra – A Brief Comparison
Amidst a plethora of schemes running in Maharashtra, it can be difficult to understand which suits the best according to one’s needs. In case you are looking to buy a plot for residential or purposes, here is a brief comparison table that can help you make a correct choice.
| Schemes | MHADA | CIDCO | Godrej Properties | Tata Housing Development Company | Hiranandani Developers |
| Pricing | Competitive, often affordable | Affordable | Premium | Varies | Premium |
| Location | Mumbai, Pune, Konkan, Nagpur, Nashik, Amravati, and Aurangabad | Planned Urban Ares | Mumbai, Pune, Nagpur | Mumbai & Pune | Mumbai & Pune |
| Amenities | Planned with basic amenities | Planned with basic amenities | High-end amenities | Modern amenties | Modern amenities |
| Development | Part of government urban planning | Part of government urban planning | Private development | Private development | Private development |
Plot Schemes in Maharashtra – How to Apply
- Visit the official website or the specific authority managing the scheme to check for the latest plot scheme details, including eligibility criteria, plot sizes, locations, and application timelines.
- Next, register on the official portal of the authority managing the scheme. This may involve providing personal details and creating a login ID and password.
- Fill out the application form online or obtain a physical copy from the designated offices. Provide all required details accurately and attach necessary documents, such as identity proof, address proof, bank statements, etc.
- Pay the application fee through the designated mode of payment. The fee amount and payment details will be specified in the scheme notification.
- Submit the filled application form along with the required documents and proof of fee payment before the deadline.
- After the application deadline, the authority will conduct a draw of lots to allocate plots. In the case of MHADA and CISCO plots, an e-auction is conducted that allows buyers to bid for the plots online Check the scheme notification or website for the draw date and results.
- If your name is selected, you will be issued an allotment letter. This letter will contain details of the allotted plot, payment schedule, and other relevant information.
- As per the allotment letter, make the required payments within the specified timelines. Failure to pay on time may result in the cancellation of the allotment.
- Once you have made all payments, the authority will issue a possession letter. You can then take possession of the plot and start the process of construction or development as per the rules and regulations.
Things to Consider Before Buying a Plot
1. Location and Connectivity
It is more convenient to buy plots in areas where there is good connectivity to major highways, Metro, and essential services like hospitals and schools.
2. Infrastructure and Amenities
Before purchasing a plot, it is essential to cross-check the amenities provided within the plot scheme, such as water supply, electricity, drainage, and community facilities.
3. Legal Due Diligence
Make sure to conduct thorough legal checks to ensure the plot has clear titles, and the scheme aligns with all regulatory guidelines and laws.
4. Future Development Plans
Look for more plans or developments ahead in the vicinity in order to predict the rise or decline in the value of the property you buy.
Conclusion
Investing in plot schemes in Maharashtra can be a great opportunity, given the city’s strategic location and its ongoing infrastructure and urban development projects. Whether for residential, commercial, or industrial purposes, careful consideration and due diligence are key to making a sound investment. Unlock the potential of your investment with OneNDF’s expert guidance and access to the best financing options.
Other Plot Schemes:
- HSIIDC’s Industrial Development Plot Schemes
- HUDA Plot Scheme
- Various PLOT SCHEMES IN UTTAR PRADESH
- YEIDA Plot Scheme 2024
Frequently Asked Questions
Q1: What is the tenure for a loan for the housing schemes of Maharashtra?
The tenure for a loan for the housing scheme in Maharashtra can vary among lenders but is typically up to 30 years.
Q2: What documents are required to apply for a loan for a plot in Maharashtra?
The documents required for a loan application in Maharashtra typically include
- Proof of identity
- Address proof
- Income proof
- Property documents
- Bank statements
Q3: Can I sell my MHADA house?
Yes, you can sell your MHADA house, but there are regulations to follow. The original buyer must occupy the flat for five years before selling it. Additionally, MHADA must approve the sale, and the resale price cannot exceed the original purchase price plus any additional charges paid at the time of acquisition.
Q4: What is the price of MHADA lottery House?
The lottery includes residences for all four categories: Economically Weaker Section (EWS), Low Income Group (LIG), Middle-Income Group (MIG), and High-Income Group (HIG). The prices of these flats range from Rs 9 lakh to Rs 49 lakh.
