Mhada to sell 250 shops in SoBO through lottery

Mumbai: After carrying out a lottery for low-cost houses in the city and Konkan region, the Maharashtra Housing and Area Development Authority (Mhada) will put out around 250 commercial shops in South Mumbai, and in the western and eastern suburbs, up for grabs.

“The shops would be sold via the lottery system, and we are carrying an internal survey as to how many shops are in stock with us. After the survey is over, we’ll come to know more details, but we are expecting to generate between Rs 50 crore and Rs 100 crore in revenue by selling these commercial shops,” said a Mhada official.

In 2010, Mhada had carried out a similar auction of 168 shops where the authority had collected a huge amount. Around 99 of the 168 shops were located at Pratiksha Nagar in Sion and others at Sahakar Nagar in Chembur, Goregaon, Dahisar, Malad and Andheri. Back then, the rates were Rs 5.28 lakh for a 65-square-foot shop to Rs 23 lakh for a 286 square foot shop at Chandivali, Andheri (east).

Meanwhile, Mhada is in the process of constructing around 4,000 affordable homes for the Lower Income Group (LIG) and Middle Income Group (MIG) on a 15-acre plot it had recently got back in its possession after litigation with a developer on the Link Road at Goregaon.