The Maharashtra Housing and Development Authority (Mhada) will announce a lottery of around 1,100 homes in the Mumbai region for its 2016 lottery draw in the first week of April and the results for th
The Maharashtra Housing and Development Authority (Mhada) will announce a lottery of around 1,100 homes in the Mumbai region for its 2016 lottery draw in the first week of April and the results for the lottery will be announced on May 31, 2016. The apartments are located in areas like Chembur, Sion, Dahisar and Goregaon.
“We are yet to evaluate the exact number of flats for the lottery of Mumbai region. However, according to the figure till now, we are ready with 1,100 apartments and they could increase as we are evaluating the vacant apartments from the old projects,” said S.S. Zende, chief executive officer, Mhada.
According to Mhada officials, the cost of homes in the lottery for the city region will be lower than that of the 2015 lottery of the Mumbai board. The price cut is due to the reduction in Mhada’s administrative cost and the profit margin of the contractors slashed to 6-8 per cent from the previous 15 per cent.
The lottery draw will have 2BHK apartments for the Medium Income Group (MIG) measuring around 600 square feet, followed by 1BHK apartments measuring around 400 square feet for the Lower Income Group (LIG).
“We are yet to evaluate whether there will be any availability of apartments under the economically weaker section and higher income group. The final decision in the matter will be taken followed by discussions with senior housing ministry officials,” said a Mhada official.
“The figure of 3,000 is just the apartments that are ready or expected to be ready in a few months. The figure will go up further after evaluation and the completion of ongoing projects,” the official added.
Mhada is also going to include buildings that have got a commencement certificate and homes in buildings that are on the verge of getting an occupation certificate in the next six months to avoid any delay in possession.
Apart from this, the Mhada also plans to conduct a lottery of around 3,000 apartments for the Konkan board’s lottery, which is scheduled for 2017.
