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Maharashtra Housing Area Development and Authority (MHADA) has announced that it is reducing prices of 370 affordable homes, that are part of the ongoing housing lottery, by 10% to 25%. As many as 2,030 apartments are on sale in prime locations in Mumbai such as Malad, Powai, Vikhroli, Goregaon and Wadala.
MHADA has also decided to extend the registration deadline to September 19. The application process for the ongoing lottery was earlier scheduled to close on September 4.
The authority has received several representations for the housing draw and has decided to decrease the prices to ensure that maximum number of buyers can afford a house, Maharashtra Housing Minister Atul Save said on August 28.
Also Read: MHADA plans to conduct two housing lotteries annually, create stock of 50,000 affordable homes over the next five years
MHADA had started accepting applications for the housing lottery from August 9.
“With the decreased prices, we are passing a benefit of over โน100 crore to the homebuyers,” said Sanjeev Jaiswal, CEO and VP of MHADA.
The price of the costliest apartment is now โน6.82 crore instead of โน7.57 crore, according to MHADA.
MHADA lottery 2024 applications
The MHADA had started accepting applications for the housing draw from August 9 and the last date is now September 19.
Since August 9, MHADA has received more than 30,000 applications and several applicants have also paid the required earnest money deposit (EMD) in order to apply for the preferred apartment.
MHADA received more than 1 lakh applications for the MHADA Mumbai lottery 2023. However, the number of applications received in the first week cannot be considered a benchmark โas most applications are received in the last one week or say the last 10 days. We still have more than 15 days until the lottery applications window closes,” an official said.
Apartment prices
MHADA lottery 2024 has on offer apartments in the price range of โน29 lakh to โน6.82 crore. Most units in the higher income group (HIG) are being offered in the range of โน1 crore and โน6 crore plus.
Also Read: MHADA lottery 2024: Apartments worth โน29 lakh to โน7.58 crore up for sale in Mumbai draw
The costliest among them is a unit worth โน6.82 crore in south Mumbai’s Tardeo area measuring over 1,500 sq ft. This apartment is located on a higher floor, is ready-to-move, and the building overlooks the Mahalaxmi Racecourse and faces the sea.
How to apply for the MHADA lottery 2024?
According to MHADA officials, the application procedure for MHADA lottery 2024 is completely online and homebuyers can keep a track of lottery related updates on https://housing.mhada.gov.in/
Also Read: MHADA lottery 2024: Divorced applicants to face additional scrutiny while applying for 2,030 affordable homes in Mumbai
