Mumbai: MHADA to sell 4,000 homes in early 2023

Mumbai: MHADA to sell 4,000 homes in early 2023

The Mumbai Housing and Area Development Board (MHADB) will sell around 4,000 homes through a lottery early next year.

Ateeq ShaikhUpdated: Saturday, December 17, 2022, 03:25 AM IST
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MHADA | File pic

Mumbai: The Mumbai Housing and Area Development Board (MHADB) will sell around 4,000 homes through a lottery early next year.

The announcement of MHADB, and arm of the Maharashtra Housing and Area Development Authority, putting the houses on the block will be made in January. At present, MHADB is securing the occupation certificate of some of these buildings.
“Ahead of the lottery, we will issue a list of eligible applicants. Our plan is to conduct the housing lottery draw during late-February or in March," said Milind Borikar, chief officer, MHADB.
The lottery is likely to temporarily disrupt the sale of residences available with private developers.
Approximately 60% of the 4,000 homes to be sold will be available under the economically weaker section and the low income group. The remaining 40% will be for the middle income group and high income group.
About 2,200 homes, will be from the Pahadi area in Goregaon West. The remaining will be scattered among areas such as Sion, Borivali, and Powai.

Earlier this year, officials were planning to organise the housing lottery around Dussehra or Diwali. However, this did not materialise because of certain changes in the process of scrutinising documents.
In a departure from the present practice, the applicant will have to submit all documents at the time of applying for the home. The software has been designed to filter ineligible submissions and compile a final list of applicants. Earlier, such documentation took place after the results of the lottery were announced.
“The winners will be required to make the payment within 30-45 days of the lottery and take possession of the apartment,” Borikar said.

INCOME GROUP CLASSIFICATION

Economically Weaker Section: Up to Rs6 lakh per annum
Low Income Group: Up to Rs9 lakh per annum
Middle Income Group: Up to Rs12 lakh per annum
High Income Group: Above Rs12 lakh per annum

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