Mumbai: The BMC has received a poor response for 426 flats developed under the Development Control and Promotion Regulations (DCPR), 2034. With just four days left to apply online, 23,704 citizens have registered, but only 855 have paid the deposit. Of the flats on offer, 381 are for the Economically Weaker Sections (EWS) and 45 for Low-Income Groups (LIG) buyers, ranging from 269 sq. ft. to 489 sq. ft.
High Prices Discourage Buyers
On October 16, the BMC announced the sale of 426 flats priced between Rs 55 lakh and Rs 1.07 crore, aiming to generate around Rs 308 crore. For the first time, the civic body is independently conducting the sale through an online process.
The flats meant for EWS and LIG buyers earning below Rs 6 lakh and Rs 9 lakh annually are located in Marol (Andheri), Majas Gaon (Jogeshwari East), Goregaon West, Kandivali West, Bhandup West, Byculla, Dahisar, and Kanjurmarg. However, even after three weeks, the flats have failed to attract a large number of buyers.
Officials Consider Revising Rates
A senior BMC official said, “The prices are about 10% higher than the ready reckoner rate of the respective areas. If we don’t get buyers, we may consider reducing the rates. However, before doing so, we want to review the market and assess the available housing inventory.”
The BMC received these flats under Regulation 15 of DCPR 2034, which requires developers of plots over 4,000 sq m to hand over part of the built-up area for affordable housing. More units came from Regulation 33(20)(b), promoting affordable housing on private plots. Earlier, such homes were allotted through MHADA's lottery, but this time, the BMC is conducting the draw itself to streamline the process.
Application and Lottery Schedule
Applicants can pay the application fee and earnest money deposit until November 14, 11:59 PM. The final list of eligible applicants will be released on November 18 at 5 PM, followed by the lottery draw on November 20 at 5 PM. The names of successful and waitlisted applicants will be announced on November 21 at 5 PM on the official website.
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As per data received from BMC..
Application Data (October 16 – November 10)
Registered applicants: 23,704
Registration fee (₹1,180) paid: 1,644
Deposit (₹11,000) paid: 855
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