1,500 low-cost homes near Mumbai will be up for sale shortly in a lottery, says Maharashtra Housing Authority

Fifteen-hundred low-cost homes are likely to go on sale next month in Mumbai’s satellite cities, including Navi Mumbai, Thane, Virar, Kalyan and Dombivali.

Fifteen-hundred low-cost homes are likely to go on sale next month in Mumbai’s satellite cities, including Navi Mumbai, Thane, Virar, Kalyan and Dombivali. The sale will also include homes under the affordable housing scheme Pradhan Mantri Awas Yojana (PMAY), for which citizens can avail a credit-linked subsidy.

Maharashtra Housing Authority

All the houses will be up for sale via an online lottery system for the economically weaker and low-income-group category, confirmed the Maharashtra Housing and Area Development Authority (MHADA) on Thursday.

According to MHADA, the area and costing of the houses is yet to be worked out. “We are going to send a proposal to the state government on selling around 1,500 houses via an online lottery system. These houses are located in areas like Thane, Navi Mumbai, Kalyan, Dombivali and Virar etc," said Nitin Mahajan, Chief Officer of MHADA's Konkan Board.

“We are yet to work out on the rates and the carpet areas of these flats. However, these flats will be available for the economic weaker section (EWS) and Low Income Group (LIG) category. Of these, some houses in Virar will also be sold under the PMAY scheme. The exact ratio of the categories of houses is yet to be worked out,” said Mahajan.

He added that the majority of the buildings in which these apartments are located have an occupational certificate (OC), and in the remaining buildings an OC will be ready by the time of possession in the coming months.

In 2021, more than 8,000 homes were put up for sale in these areas by MHADA, with prices starting from Rs 13 lakh. However, the reason behind the number going down this year is that in 2021, the sale via lottery was conducted almost three years after the last lottery in 2018.

Additional sale

In addition, 948 low-cost homes and 220 land parcels will also go on sale next month, added MHADA. These include properties in Aurangabad, Jalna, Osmanabad, Latur, Parbhani, Hingoli and Nanded districts of Maharashtra.

The last date for the sale of forms for this lottery is June 10, 2022.

The form can be filled on https://lottery.mhada.gov.in. The results will be declared on June 24.

Under this lottery, houses will be available under the PMAY scheme in the LIG, MIG and HIG category. According to the MHADA criteria, those who have a monthly family income below Rs 25,000 fall in the EWS category, those earning between Rs 25,000 to Rs 50,000 belong to the LIG category, those between Rs 50,000 to Rs 75,000 in MIG, and those above Rs 75,000 in the HIG category.

The Maharashtra government established MHADA in 1977 to provide housing at affordable prices in Mumbai and some parts of the State. Since its establishment, MHADA has constructed 4,85,151 dwelling units / tenements (as of November 2021), according to data from the Maharashtra Economic Survey 2021-22 tabled in the state assembly in March.

MHADA constructed the most low-cost homes in 2021-22 (eight-month period) compared to 2020-21 and 2019-2020. According to official data, in 2021-22 (up to November 2021), the authority had constructed 4,271 houses. It had built 1,163 houses in 2020-21 and 2,074 in 2019-2020

Source: https://www.moneycontrol.com/news/business/real-estate/1500-low-cost-homes-near-mumbai-will-be-up-for-sale-shortly-in-a-lottery-says-maharashtra-housing-authority-8593201.html

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