1.65 Lakh Applications Received for MHADA Lottery 2016

Latest Housing News, Schemes & Projects | By Rajkumar

MHADA has received an overwhelming response for its current housing lottery, MHADA Lottery 2016. In the registration period of 20 days, MHADA has received around 1.65 lakh applications for 4275 flats in Virar, Thane, Mira Road and Vengurla. Of total, more than 1.22 lakh applicants have paid the deposit for flats in the lottery.

Latest Update: Check List of Eligible Applicants for MHADA Lottery 2016

According to the statement of Senior official of MHADA, the rates of MHADA flats are lower than the open market and hence, people are coming forward to buy flats from us. Also the important thing is that our lands are clear. The biggest issue with private developers is that they cannot guarantee whether they have clearance for the land.

The market is filled with full of buyers and the buyers are investing only those housing projects in which they feel the price is right. Pankaj Kapoor, the MD of Liases Foras, a real estate rating and research firm, quoted that the number of applicants for MHADA homes is 40 times more than the number of homes available. This shows that buyers are willing to buy, if they are offered a home at affordable rates. Also, investors have left the market; now the market is only for end users.

An allegations have been made against MHADA for supposedly selling homes on a higher built-up area, which is higher than other developers. On this Ravindra Waikar, the State Housing Minister responded that “I have called for a meeting of the secretary and the vice president of MHADA to discuss this issue. We will come out with a solution on the same.”

Meanwhile he added that the real estate market is not booming and, hence, they will not be increasing the ready reckoner rates. “I am going to oppose any hike in the ready reckoner rates, the sentiment of the market is not very good.”

MHADA Konkan Board Lottery will be conducted on 24 February 2016 for 4275 flats at Rangsharda auditorium in Bandra (west). The large number of 3,755 units under the lottery are located in Virar, followed by Mira Road, Thane and Vengurla.

The majority of units under MHADA lottery 2016 are available for Economically Weaker Sections (EWS) and Lower Income Group while for Higher Income Group only 6 units are available. The categories are divided on the applicant’s salary.

Source www.www.mid-day.com/

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