Maharashtra Housing and Area Development Authority is working on a proposal that prevents the MHADA flat owners from selling their flats in open private market. If passed, people who have bought MHADA flats through the lottery system or any other means from MHADA will not be able to sell their flats in open market.
MHADA is considering to buy the back if anyone want to sell at prevailing government ready reckoner rate. The authority is going to inform the property registration and stamp duty department not to do registration of these flats.
The authority has even earmarked Rs. 1600 crores for the purpose buying the flats back. These flats will be sold through the annual MHADA housing lotteries.
The authority has taken this decision to control the soaring prices of homes in private property market. According to the authority, MHADA sells the flats at affordable rates to the people so that they can own a home in a city like Mumbai and live in there. But most who owns these flats sells their flats at a higher price, hence misusing the government housing scheme.
According to the sources, whether this move would be applicable in a retrospective manner or not is yet to be decided. Many of the real estate firms and individuals have welcomed the move while many says that it is not a good decision by the authority.
Source: https://www.dnaindia.com/mumbai/report-maharashtra-government-to-stop-citizens-from-selling-their-mhada-flats-in-open-market-2103486