Lottery result today: 1.60 lakh vie for 1,384 Mhada homes
The three high-end apartments ranging from ₹4.99 crore to ₹5.80 crore at Cumballa Hill in south Mumbai, are the costliest Mhada houses till dateUpdated: Dec 16, 2018 00:29 IST
With an average of 119 applicants for every apartment, the Maharashtra Housing and Area Development Authority (Mhada) lottery of houses, which will be held on Sunday, received a good response this year.
For 1,384 houses on its block, the Mhada housing lottery attracted 1.60 lakh applications this year.
In addition, the three high-end apartments ranging from ₹4.99 crore to ₹5.80 crore at Cumballa Hill in south Mumbai, which are the costliest Mhada houses till date, received applications from 136 homebuyers.
These apartments have been embroiled in a legal dispute involving the managing committee of the society, where these buildings are located.
The managing committee has filed a lawsuit in the Bombay high court, disputing Mhada’s ownership, claiming that the owner is yet to pay dues worth ₹75 lakh to the society.
However, Mhada has claimed that there is no dispute.
“Mhada is the legal owner of these flats. The issue is of maintenance dues, which have to be paid to the society. We have put forth our stand before the court and there is no stay on the housing lottery,” said Vaishali Gadpale, public relations officer, Mhada.
She said that the response to the lottery was good this year due to reduced prices.
“We did our best to ensure that buyers get the best possible rates. We even got a good response for these high-end homes,” Gadpale said.
These Mhada houses are located at Antop Hill; Pratiksha Nagar in Sion; Gavanpada in Mulund; PMGP at Mankhurd; Siddharth Nagar at Goregaon; Mahavir Nagar at Kandivli; Kannamwar Nagar at Vikhroli; Magathane in Borivli; Shailendra Nagar in Dahisar; Sahakar Nagar in Chembur; Tunga in Powai; Cumballa Hill; Charkop; Ghatkopar, Matunga and Lower Parel.
Prices of these houses range from ₹14.61 lakh in Powai to ₹5.80 crore in Cumballa Hill.
In the last few years, private builders raised their prices to exorbitant levels due to which, many home buyers postponed their purchase plans.
This resulted in great demand for Mhada houses as in the last ten years, 14.13 lakh applicants applied for the 23,742 houses put up for sale.
However, in the last few years, Mhada also raised the prices of apartments resulting in a considerable drop in consumer demand.
First Published: Dec 16, 2018 00:29 IST