Mumbai: The Maharashtra Housing and Area Development Authority's (MHADA) latest affordable housing lottery draw via the Konkan Board has garnered 1,776 applications in the first two days of starting it.
As per the statistics sourced from the officials associated with the housing lottery process, until 6 pm on Thursday of the 1,776 applications made, 739 applicants had already paid the earnest money deposit.
A total of 4,654 tenements and land parcels are up for sale. The lottery draw will be held on May 10.
MHADA lottery popular due to lower prices of residential projects
MHADA's housing lottery draw is popular and sought after among homebuyers due to the prices being lower than the residential projects marketed by private developers.
Applications start flowing in for MHADA's housing lottery | FPJ
Units in Virar, Vasai, Thane, Navi Mumbai up in lottery
Of the total 4,654 Konkan Board units, 984 houses are part of the Prime Minister Awas Yojana (PMAY). Under this scheme, the homes up for sale have already been subsidised prior to calling for applications. Located in Kalyan, Virar and Thane and meant for economically weaker sections, the units cost between Rs 14.96 lakh and Rs 21.15 lakh.
Another set of 20% homes totalling to 1,456 units have come to the Board and are now being sold from the redevelopment projects. These homes are spread out in different localities such as Virar, Vasai, Thane, Navi Mumbai, etc.
Then there are 166 homes across the income categories, which are located in Ambernath, Badlapur, Roha, Vengurla, Virar, Thane, etc. A majority of 2,048 homes in Virar are being sold on a first-come, first-served basis. These homes fall under the low and middle-income groups. The price ranges from Rs23.28 lakh to Rs41.81 lakh.
Applicants can participate until April 10
According to officials, applicants can participate in the lottery draw process until April 10. The earnest money deposit payment can be done till April 12. Thereafter, the authorities will publish a final list of valid applications on May 5 and conduct the lottery draw on May 10 at Kashinath Ghanekar Hall in Thane.
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