India, May 29 -- The Maharashtra government has finalised the Housing Policy 2025, introducing significant incentives for senior living housing projects. Under the new policy, stamp duty for buyers of such properties has been reduced to a flat Rs.1,000, down from the current 5% to 7% of the property's value, depending on the location.

In addition to the reduced stamp duty, the government will offer property tax concessions for owners of senior living homes. Developers of these projects will also benefit from various tax relaxations and enhanced Floor Space Index (FSI) allowances.

This is Maharashtra's first comprehensive housing policy in nearly two decades. Announced last week, it addresses modern housing concepts such as senior citize...