The Maharashtra Housing and Area Development Authority's (MHADA) Mumbai Board has received Rs 519 crore in earnest money deposit from 1,20,144 applications for the sale of 4,082 homes in Mumbai.
The government body will continue to hold on to the amount till the time lottery is conducted, the date of which is yet to be announced.
Deposit amount varies based on income category
The earnest deposit amount varies depending upon the four income categories with Economically Weaker Section (EWS) applicants requiring to pay the least Rs10,000 per application towards deposit and another Rs590 as non-refundable processing fee. Likewise, High Income Group (HIG) applicants have to pay a deposit of Rs1,50,000 for every application and another Rs 590 for processing fee. The refundable deposit for Low Income Group (LIG) and Middle Income Group (MIG) is Rs 50,000 and Rs 1,00,000 respectively.
If an average is worked out, for every application MHADA's Mumbai Board has received Rs43,198.
Flats applications and location
These 4,082 flats include 1,947 units under the Pradhan Mantri Awas Yojana (Urban), for which there are 22,472 applications. For 1,877 tenements in the LIG category, it has received 89,384 applications. In the case of 138 flats of MIG, there are 8,395 applications in the fray. And for 120 HIG apartments, there are a total of 2,068 applications.
In the current edition of lottery draw, some of the locations where homes are available include Sion, Tardeo, Goregaon West, Juhu, Kandivali, Powai, Vikhroli and Ghatkopar.
In mid-May, when the lottery draw was announced, the authorities had decided to conduct the lottery draw on July 18, which was deferred indefinitely. A date and venue of the draw is yet to be finalised.
Earnest money deposit
LIG Rs 50,000
Applications received: 1,20,144
Homes for sale: 4,082