MHADA Lottery 2016: After a success of first lottery of 2016, Maharashtra Housing Area Development Authority (MHADA) is ready to announce its second lottery of the year 2016. MHADA second lottery of the year will be launched officially in the month of April 2016.
According to the source, more than 1100 flats in Mumbai region will be announced by the authority in the second MHADA Lottery 2016. These flats will be available in Goregaon, Sion, Dahisar and Chembur.
MHADA has not yet announced the official launch date of MHADA Lottery 2016, it is expected that the lottery will be announced in the first week of April and the draw for the MHDA scheme is scheduled to be conducted on 31st May 2016.
The count of flats under MHDA lottery 2016 is not yet decided by the authority. On this, the CEO of MHADA, Mr. S. Zende said that the number of flats might be slightly higher than 1100 as we are also planning to add some vacant flats from old projects too.
In the second lottery, the area of 1BHK and 2BHK flats will be 400 square feet and 600 square feet respectively. The authority has reduced the profit margin of contractors to 6-8 percent which was 15 percent in the previous scheme. This reduction might bring down the cost of flats in the scheme.
According to the source, houses for EWS and HIG will not be available in upcoming MHADA lottery.
Source: www.asianage.com