Planning to move? Good news, MHADA will put 800 affordable Mumbai homes up for grabs in July
Mumbai city news: The lottery for these houses got delayed as the MHADA had to register its projects under RERA before putting up the housing units on salemumbai Updated: Jun 26, 2017 11:50 IST
The Maharashtra Housing and Area Development Authority (MHADA) is planning to put nearly 800 affordable houses on sale in July. The houses are at Sion, Goregaon, Mulund and Mankhurd.
The lottery for these houses got delayed as the MHADA had to register its projects under the Real Estate Regulation Act (RERA) before putting the housing units on sale.
A MHADA official said, “We will soon hold a lottery for at least 800 apartments in Mumbai. There is a tremendous demand for Mhada houses and we are working out ways to boost supply.”
In the past 10 draws, 14.94 lakh homebuyers had applied for 23,895 houses put on sale by the MHADA.
Several activists, however, have contested that although MHADA prices are lower when compared to private developers, they are still unaffordable.
“The economy has slowed down and MHADA flats are becoming expensive with each passing year. The government needs to step in and offer sops on stamp duty and other property related taxes to lessen the burden on buyers looking for affordable homes,” said activist Ramesh Prabhu.
With hardly any land bank in its kitty, MHADA is looking up to its own colonies and partnering private builders to create a stock of affordable housing in the city and on its outskirts.
First Published: Jun 26, 2017 11:49 IST