Finance outlook india logo
Home News Exclusive Expert's Viewpoint Corporate Startup Fintech Personal Magazine Round Up 2025 Budget'24
  • Budget'25 Budget'24
    • Home
    • News
    Maharashtra Mahayuti Govt Allocates 1500 Crore for the Housing of Textile Mill Workers

    Maharashtra: Mahayuti Govt Allocates Rs 1500 Crore for the Housing of Textile Mill Wokers


    Finance Outlook India Team | Tuesday, 17 September 2024

    With only a few days to the declaration of the state assembly elections, the Mahayuti administration has set aside Rs 1500 crore for accommodation for Mumbai textile mill workers. The grant would be made from the Maharashtra Niwara Nidhi (shelter fund), which has been set aside to provide housing for the urban poor.

    The political consequences of the action are obvious, given that mill workers' families make up a sizable vote bank. A senior government official informed the FPJ that the state had never provided such a large allocation before.

    Atul Save, Maharashtra's Housing Minister, has asked developers to help build 1.25 lakh houses for mill workers.

    What Will Happen to the Funds?

    The funding will be shifted to MHADA, the state housing authority, to be used for mill worker housing. According to the government resolution (GR), each 300-square-foot dwelling unit being built in the Mumbai Metropolitan Region would cost Rs 15 lakh. A mill worker's contribution will be Rs 9.5 lakh per unit, with the state government likely to pay Rs 5.50 lakh.

    The state has opted to split one-third of the contribution costs with the BMC, the Maharashtra Niwara Nidhi, and from the state budget. According to the directive, the Rs 1500 crore Niwara Nidhi contribution would now be put in a separate account for usage.

    How Important Were Textile Mill Workers?

    Textile mill workers formerly formed the backbone of Mumbai's industrial environment. Houses will be built for workers from the 58 mills that shuttered when the historic strike began in 1982. To promote mill worker housing and rehabilitation, the state implemented a regulation that earmarked one-third of each textile mill's site for this purpose.

    As of present, 15000 dwellings have been given to mill workers in various regions, and development on 147 houses in Byculla is proceeding. MHADA conducted a survey, and 1.78 lakh mill workers replied to a request to apply for the dwellings. 78,000 were determined to be eligible. The MHADA has granted 18,000 dwellings to mill workers, and around 14,000 have been awarded possession.

    According to an official acquainted with the issue, 2500 houses are ready for allocation in Panvel and Kon, but possession has yet to be handed. Under the current scheme, land parcels available in 11 textile factories in Mumbai are yet to be taken up by MHDA, and a proposal is waiting before the State Government.



    Read More:

    Piyush Goyal Announces Rs 10,000 Crore Fund of Funds for Startups

    Ashika Institutional, MOFSL & Bajaj Broking Markets Closing Commentary

    KNOWLEDGE DECK

    Most Viewed

    • The Economic Impact of India-Pakistan War: A Detailed Analysis

    • Why Financial Literacy Matters More Than Ever for Today's Youth

    • Prominent Financial Advisors in India to Partner With

    • Rags to Riches: The Top 6 Indian Entrepreneurs' Motivational Tales of Success

    • Navigating Financial Disruption With Future Proof Financial Service Deliverability

    • India's Rs 31 Lakh Cr Green Push: Building the Foundation of a Net-Zero Future

    • Wakhariya & Wakhariya: Facilitating International Legal Processes across Diverse Domains

    • Aligning Financial Strategies with Sustainable Business Goals

    • The Top 5 Highest-paid Actors in India - 2024

    • Central Government Proposes Tax on Agricultural Water Usage

    • Carpediem Capital Invests INR 100 Crore, CorporatEdge to Deploy INR 350 Crore in the next 3 Years

    • EPFO Registers All-Time High Member Addition of 20.06 Lakh in May 2025

    • Unearthing Intricacies of Today and Beyond in the Indian Insurance Sector

    • Expected Correction in Housing Prices to Revive Sales in Coming Quarters

    • How to Choose the Right Mutual Fund for your Financial Goals?

    • Future of Corporate Finance: Emerging Trends in Treasury Solutions and Cash Management for MNCs

    • ElasticRun Announces FY24 Financial Results: Key Details

    • Financial Inclusion in Viksit Bharat

    • Abans Financial Services Advises Vaishali Pharma on Strategic Acquisition of Kesar Pharma






    🍪 Do you like Cookies?

    We use cookies to ensure you get the best experience on our website. Read more...

    Copyright © 2026 Finance Outlook India. All rights reserved.   Privacy Policy Terms of Use Blogs Conferences Subscribe About Us