MHADA Announced Lottery for 4,275 Affordable Homes
MHADA Announced Lottery for Affordable Homes
On Monday, the MHADA (Maharashtra Housing and Area Development Authority) announced a lottery of 4,275 affordable homes for Konkan region which is scheduled on February 24. Konkan region have highest number of homes and it will cover the Mira Road, Thane, Virar and Vengurla in the Sindhudurg district of the Konkan region. If you are interested, so you can apply through registration and you can do it in online mode and rest of the procedures for same will be start from Wednesday. In lottery system there will be;
- 329 Homes for the EWS (Economically Weaker Section) segment
- 2,629 Homes for the LIG (Lower Income Group) segment
- 1,311 Homes for the MIG (Middle Income Group) group
- 6 Homes for the HIG (Higher Income Group) segment
However; the prices of homes in each different segment are different and you will see that the price of house in MIG are Rs 40 lakh whereas the price of house in HIG are Rs 28 lakh and the price different is just because six apartments of HIG are coming up in Vengurla region where prices are low. The prices of homes in each section are following;
- Each unit in Economically Weaker Section (EWS): From Rs 5 lakh to Rs 10 lakh (price depends on area)
- Each unit in Lower Income Group (LIG): The price of a house is Rs 22 lakh
- Each unit in Middle Income Group (MIG): The price of a house is Rs 40 lakh
- Each unit in Higher Income Group (HIG): The price of a house is Rs 28 lakh
According to S.S. Zende, the Vice-President of MHADA, “The prices of homes in the lottery for the Konkan region is much more less than what it was MHADA’s lottery in 2015 and the main reason behind the low price is just because of low administrative cost and low profit margin of the contractors as well as it was also reported that there were reduced the contingency (managerial) expenses. Apart from that the slowdown in the real estate market is one of the reasons behind the prices being low.
Important Dates:
The online registration is scheduled from January 13 and the application procedure will be start from January 15, however; the last date of registration is February 7, 2016 and the last date to apply for lottery is February 9, 2016, as per the statement of Vijay Lahae, Chief Officerof MHADA for the Konkan board. After completing the registration procedure, applicants have to fill the registration fees via demand draft and they have to do it before February 11, 2016 and after that scrutiny will start and the results for the lottery will be displayed online on February 24, 2016 at 6 pm.
According to Prakash Mehta¸ the Housing Minister, “This ongoing completion of the construction will be completed by the end of March 2016 and all the lucky winners will get the possession of the houses tentatively by April or May 2016. However; we are also planning to increase the number of houses, but we can do it only than if we will get a reserved plot in Virar and for that talks are in progress.
