3,074 low-cost homes up for grabs by May-end | mumbai | Hindustan Times
Today in New Delhi, India
Dec 13, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

3,074 low-cost homes up for grabs by May-end

Here is some good news for homebuyers looking for affordable housing.

mumbai Updated: Apr 05, 2012 01:52 IST
Naresh Kamath

Here is some good news for homebuyers looking for affordable housing.

The Maharashtra Housing and Area Development Authority (Mhada) will start allotting 3,074 low-cost homes through its lottery system by May-end. Of these, 1,998 houses are located in Mira Road and 1,076 are in the city.

Forms will be available from April 17, to be filled online.

Bhausaheb Dangade, chief officer, Mhada, “We will hold the computerised draw in May-end and an oversight committee will monitor the process.”

Applicants are divided into four categories, and houses are priced accordingly — high income group monthly income of Rs40,000 and above), middle income group (income between Rs20,000 – Rs40,000) low income group (monthly income of Rs 8,000 - Rs 20,000) and the economically weaker section (monthly income less than Rs8,000)

In Mumbai, 172 flats will be available for the high-income group, 234 flats for the middle-income group and 461 for the low-income group. Houses will be allotted in Powai, Magathane, Pratiksha Nagar, Gorai, Kurla, Malvani and Charkop.

Mhada plans to make it compulsory for applicants to have a PAN card and a bank account number. “This will prevent fake and multiple entries,” said Dangade.

Property experts said the draw would bring respite to homebuyers. “No one can afford to buy from private builders. Mhada will get lakhs of applicants,” said Prakkash Nichanii, CEO, Anchor Property Consultants.