Overview The Maharashtra Housing and Area Development Authority (MHADA) conducts a lottery each year through which buyers get an opportunity to purchase low cost homes as per their income category. This article is a heads-up to inform buyers that, as per the press release issued by MHADA, the applications for the lottery will be opened next month, likely at July-end, and the lottery will be conducted in August.
This year, the MHADA project had to be first registered with Real Estate Regulation Act (RERA) due to the Government making it mandatory for all projects to have transparency. Hence all builders have to compulsorily register their projects with details online only. MHADA has completed this registration process and is in the process of finalizing the prices of the flats on the basis of the carpet area.
Though the price of the MHADA houses has risen over the years, they are still attractive to buyers who cannot afford the high costs of homes offered by private builders. What's more, the advantage of buying a MHADA home is that there is guarantee of getting a clear Occupancy Certificate (OC). You are also ensured of power and water connections.
General information The number of homes this year which will be on sale for the lottery is 800. The likely locations are:
Who can apply An individual who is minimum 18 years of age, is a domiciled resident of the State of Maharashtra for last 15 years at least and his/her family does not own a home under MHADA jurisdiction can submit an application for the lottery.
Income categories While some of the homes up for sale are for the Middle Income Group (MIG) buyers and Low Income Group (LIG) buyers, MHADA has stated that a majority of the homes will be for the Economically Weaker Section (EWS) category. That is, those whose family income is less than Rs.25,000/- per month will have a great opportunity to buy a home.
Bookmark this page to get complete information about the carpet area, price and EMI to be paid as well as the detailed application process, all of which will be updated as soon as MHADA releases the official notification for the lottery scheme.
Contact information of MHADA Grihanirman Bhavan,
(Phone numbers for enquiries and help will be updated later)
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Prospective buyers who wish to get the opportunity to own a home through the 2017 MHADA lottery will be happy to know that registration is now open