There is good news for people looking to buy homes amidst soaring realty prices, as Mhada will soon come out with a lottery for sale of 2,550 houses – 2,400 in Virar and 150 flats at Vengurla in Konkan.
These houses will be sold at an affordable rate of Rs. 3,200 per sq ft for Virar and Rs. 2,000 per square feet at Vengurla. The lottery will be held in May 2013 and buyers will get possession the next year.
“Virar has excellent connectivity and there is a great demand for flats there,” said Bhausaheb Dangade, chief officer, Konkan Board, of the Maharashtra Housing and Area Development Authority.
“We also see buyers at Vengurla, too, though the rates will be low,” said Dangade.
There are 14 flats exclusively for the Higher Income Group (monthly salary Rs.40,000 onwards) apart from low income groups (monthly salary of between Rs.8,000 and Rs.20,000) and Middle Income Group (Rs. 20,000 to Rs. 40,000).
There is always demand for Mhada houses, which can be gauged from the fact that in the last five draws, more than 10.38 lakh applicants tried their luck for the 14,809 houses put on the block. With real estate prices reaching a record high, Mhada has still priced its apartments at less than half the rates compared to private builders. Even the quality of construction has improved remarkably in the last few years.
Housing activists says that Mhada needs to be more proactive in this regard. “Mhada should come out with more such schemes as demand from buyers is increasing by the day and it is unaffordable to purchase from private buyers,” said Advocate Vinod Sampat. He said the state should provide more subsidies and affluent sections like legislators should be barred from getting Mhada flats.