Mhada to sell 'affordable' house for Rs 5.80 crore
This is the highest ever charged by the housing body in the history of the Mumbai lottery.
Mumbai: Two flats with a carpet area of 960 sq.ft. valued at Rs 5.80 crore each, have been reserved for the Mhada lottery this year under the high income group (HIG) category. This is the highest ever charged by the housing authority in the history of the Mumbai lottery. While the lowest cost house is for around Rs 14 lakh, reserved for the economically weaker sections (EWS).
The two HIG houses are located in the posh Cumbala Hill area of Grant Road in south Mumbai. The lottery of 1,384 houses will be announced on December 16 and the advertisement regarding the same will be out Monday.
“Two apartments at Grant Road are originally priced at Rs 8 crore. The price has been brought down to the tune of Rs 5.80 crore so that HIG category home buyers can afford it. The apartments are ready for possession and the buyer need not wait once the home is allotted,” said Madhu Chavan, president of Mhada’s Mumbai board.
Of the 1,384 homes, nearly 194 homes are reserved under the HIG category for the persons with monthly income of Rs 75,000 and above.
Meanwhile, 63 homes have been reserved for the EWS category for the income group of up to Rs 25,000; 926 homes for the Low Income Group (LIG) between Rs 25,000 and Rs 50,000; and 201 homes for the Middle Income Group (MIG) between Rs 50,000 and Rs 75,000 per annum.
“Of the 1,384 flats, the occupation certificate (OC) has been received for 263 flats while nine flats are in the process of receiving OC. Also, 1,112 flats are Maha RERA registered,” said Uday Samant, Mhada chairman.
Flats in the EWS are priced below Rs 20 lakh, LIG flats are priced between Rs 20 lakh and Rs 35 lakh, MIG flats are priced between Rs 35 lakh and Rs 60 lakh, while HIG flats are priced Rs 60 lakh and above.
The lottery will be held at the Mhada headquarters on December 16.