Mumbai: The Maharashtra Housing and Area Development Authority (Mhada)’s stock houses for the upcoming lottery will be 25 to 30 per cent cheaper after the housing authority reduced the cost of houses of all the categories. For instance, houses which used to cost more than Rs 1 crore under the High Income Group (HIG) category, will now be available for Rs 99 lakh. In another significant decision, home buyers will now receive a sale deed instead of an allotment letter.
“We have made a policy decision to bring down the rates of housing stock received from the premium, that is given by the developers. The houses will be charged as per the ready reckoner (RR) rate. For eg. 70 per cent of RR rate will be charged on a HIG category house,” said Uday Samant, the newly-appointed Mhada president. In the same way, 60 per cent of RR rate will be charged on Middle Income Group (MIG) houses, 50 per cent of RR rate on Low Income Group (LIG) houses and 30 per cent of RR rate on houses for Economically Weaker Section (EWS). “On an average, this time Mhada houses will be 25 to 30 per cent cheaper,” added Samant.
This year Mumbai housing board lottery will be held before Diwali for around 1,194 houses. The homes are located in areas, including Pratiksha Nagar, Sion, Tunga Powai, Mankhurd, Borivali, Goregaon etc. Going by current reservations, there will be close to 500 houses for the EWS as against last year, when only eight houses were set aside for this section. The lottery will offer approximately 300 homes under the low income group (LIG) category.
Further, the Mhada has mandated that the building should have a gym, lift, drainage, park etc before handing over to the home buyers.
