Chief minister Prithviraj Chavan is expected to announce the compensation package on Thursday.
The lower house was debating the issue till late Wednesday evening, while the upper house had ceased the debate to take up other business, such as bills.
Chavan has already announced a compensation of Rs2.5 lakh for next of kin of those who have died in the floods.
The official number of deaths toll will be known only when Chavan makes a statement.
Legislators put the number of deaths between 100 and 150.
The collective demand for compensation was for Rs25,000 per hectare, and even more in cash for farmland that was washed away in the floods.
Legislators also wanted the government to rehabilitate people living in flood-prone areas, encourage fodder crop on lines of Western Maharashtra, and change the norms to facilitate compensation for actual losses suffered by victims.
Leader of the Opposition in the state legislative counci Vinod Tawde demanded a relief package that would take care of thousands of people who have lost their homes, farmers who have lost their crops and cattle.