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The Maharashtra Housing and Area Development Authority (MHADA) plans to create a housing stock of 50,000 affordable homes in Mumbai over the next five years which will be sold in the upcoming MHADA lotteries. The development authority also intends to hold two affordable housing draws every year, Sanjeev Jaiswal, CEO and vice president of MHADA told HT.com.
MHADA is the nodal agency for constructing affordable homes in Maharashtra as well as the nodal agency responsible for executing the Central government’s Pradhan Mantri Awas Yojana (PMAY) in Maharashtra.
The MHADA launches a housing lottery every year. It recently came out with the MHADA housing lottery 2024 that has on offer more than 2000 homes across Mumbai.
MHADA’s Mumbai housing scheme
“We try to generate a housing stock of around 3,000 to 4,000 affordable homes in Mumbai every year through various schemes. It is for this reason that we want to ensure that cluster development schemes are taken up across Mumbai,” Jaiswal said.
“We are working on cluster development schemes in Kamathipura, Adarsh Nagar, Bandra, and others and the plan is to have 50,000 affordable homes in Mumbai over the next five years. This will be across all income groups and the majority will be for the economically weaker section (EWS), Lower Income Group (LIG), Middle Income Group (MIG). A few units will also be offered for the High Income Group (HIG),โ he said.
According to MHADA rules, those with a family income of up to โน6 lakh per annum can apply for a home under the EWS category. Those with an income between โน6 lakh and โน9 lakh can apply under the LIG category.
Those with a family income between โน9 lakh to โน12 lakh can apply under the MIG category and those with family income above โน12 lakh per annum can apply under the HIG category.
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Also Read: MHADA lottery 2024: Apartments worth โน29 lakh to โน7.58 crore up for sale in Mumbai draw
MHADA plans to hold two affordable housing lotteries every year
MHADA plans to hold two housing lotteries every year in each city.
“In Mumbai, the main challenge is land and at the same time we have to ensure that a new housing stock of affordable homes is generated every year. It is for this reason that old cess buildings that are in bad shape should undergo redevelopment over the next 5-10 years,” Jaiswal said.
Also Read: MHADA lottery 2024: Divorced applicants to face additional scrutiny while applying for 2,030 affordable homes in Mumbai
“It is for this reason that we plan to come up with two affordable housing lotteries every year and this is possible only through redevelopment,โ he said.
All about MHADA lottery 2024
The MHADA has started accepting applications for the housing lottery 2024 from August 9 and the last date is September 4 up to 11.45 pm. Results for the MHADA lottery 2024 will be announced on September 13 at 11 am.
Since August 9, MHADA has received more than 12,000 applications and more than 8,000 applicants have also paid the required earnest money deposit (EMD).
Also Read: MHADA lottery 2024: Applications for over 2,000 homes open, here are the details
These apartments are available in the range of โน29 lakh to โน7.58 crore. The high-end apartments for the higher income group (HIG) are priced above โน1 crore and โน7 crore.
