MHADA Next Lottery 2016 to Offer 240 Flats at Low Price

May 24, 2016 | Last Modified: June 22, 2016 at 10:44 am

A hope is still standing for the residents, who got un-lucky in MHADA Konkan Board Lottery 2016. The residents have a chance of getting successful in MHADA’s next lottery. According to the information, 1000 homes will be available in the upcoming lottery of MHADA, of them, 240 homes will be sold for upto 20 to 40% less than the market price. These units will be priced lower since they were constructed earlier in between 2011 and 2015.

Latest Update: MHADA Lottery 2016 in Mumbai: Application Start from 24 June for 972 Flats

The majority of houses in the upcoming lottery are from CM quota which were never allotted by the CM. According to the statement of Mhada official, the price of the CM quota homes haven’t been calculated yet, but it’s a given fact that the price of these flats will be low as they were constructed earlier.

Joint chief officer of the Mumbai Board, C Dange said that we have a formula to decide the price of flats and the same formula shall be used for selling the CM quota flats too. The formula is based on the cost of land, construction and other factors from the period of construction.

Meanwhile on the matter, the senior official quoted that so, in the case of a home from the CM quota in 2010, the price shall also be from that period. Only the taxes shall be applicable at current rates.

The advertisement for upcoming lottery will be come out in the end of month. Since 2009, every year MHADA has holding lotteries for the allotment of housing units.

According to the statement of the source, 49 percent MHADA flats are for reserved category applicants, while 2 percent is reserved for the CM quota applicants and the CM holds the discretionary power to allot two houses from the total available homes.