The Maharashtra Housing and Area Development Authority (Mhada) on Monday announced a lottery of 4,275 affordable homes for the Konkan region scheduled on February 24. This is the highest number of homes for the Konkan region, which covers Mira Road, Virar, Thane and Vengurla in the Sindhudurg district of the Konkan region.
The registration can be done online and the procedure for the same will start from Wednesday. The lottery will have 329 homes in the Economically Weaker Section (EWS) segment, 2,629 homes for the Lower Income Group (LIG) segment, 1,311 homes for the Middle Income Group (MIG) group and only six homes in the Higher Income Group (HIG) segment.
The prices of the homes in EWG segment are from Rs 5 lakh to Rs 10 lakh depending on the area. For the LIG segment, the price of a house is Rs 22 lakh, for the MIG segment it is Rs 40 lakh and for the HIG segment the cost is Rs 28 lakh as the six apartments in this segment are constructed in Vengurla where the prices are low.
“The prices of the homes in the lottery for the Konkan region are less than what they were in Mhada’s last lottery in 2015. The reason behind the price being low is that we have reduced the administrative cost, reduced the profit margin of the contractors and also reduced the contingency (managerial) expenses. Also, the slowdown in the real estate market is one of the reasons behind the prices being low,” said, S.S. Zende, vice-president, Mhada.
The online registration is scheduled for January 13 and the application will begin from January 15. The last date to register is February 7, 2016 and to apply for the lottery is February 9, 2016,” said, Vijay Lahae, Mhada’s chief officer of the Konkan board.
After the application and registration procedure is completed, the registration fees via demand draft will have to done on February 11, 2016 after which the scrutiny will start and the results for the lottery will be displayed online on February 24, 2016 at 6 pm.
“The ongoing completion of the construction will be completed by March 2016 and lucky winners will be given possession of the houses tentatively by April or May 2016. The number of homes for the lottery could increase if we get a reserved plot in Virar, for which talks are in process,” said state housing minister Prakash Mehta.
