MHADA Slashes Prices of 370 Affordable Homes in Mumbai by 25%-30%
Maharashtra Housing Area Development and Authority (MHADA) has announced a price reduction of 10% to 25% on 370 affordable homes in Mumbai.
MhadaAffordable HousingMumbaiHousing LotteryReal EstateReal Estate MaharashtraAug 28, 2024
MHADA has also extended the registration deadline to September 19, giving homebuyers more time to apply for the housing lottery. The application process was earlier scheduled to close on September 4.The authority has received over 30,000 applications since August 9, and several applicants have paid the required earnest money deposit (EMD) to apply for their preferred apartment. MHADA received over 1 lakh applications for the MHADA Mumbai lottery 2023.
The MHADA lottery 2024 has on offer apartments in the price range of ₹29 lakh to ₹6.82 crore. Most units in the higher income group (HIG) are being offered in the range of ₹1 crore and ₹6 crore plus.The costliest among them is a unit worth ₹6.82 crore in south Mumbai's Tardeo area, measuring over 1,500 sq ft. This apartment is located on a higher floor, is ready-to-move, and the building overlooks the Mahalaxmi Racecourse and faces the sea.
To apply for the MHADA lottery 2024, homebuyers can visit the official website https //housing.mhada.gov.in/. The application procedure is completely online, and homebuyers can keep track of lottery-related updates on the website.With the decreased prices, MHADA is passing a benefit of over ₹100 crore to homebuyers. The price of the costliest apartment is now ₹6.82 crore instead of ₹7.57 crore.MHADA plans to conduct two housing lotteries annually and create a stock of 50,000 affordable homes over the next five years.The decision to reduce prices is a welcome move for homebuyers in Mumbai, who have been struggling to find affordable housing options in the city.
Frequently Asked Questions
What is the price range of apartments in the MHADA lottery 2024?
The price range of apartments in the MHADA lottery 2024 is ₹29 lakh to ₹6.82 crore.
How can I apply for the MHADA lottery 2024?
Homebuyers can apply for the MHADA lottery 2024 by visiting the official website https://housing.mhada.gov.in/. The application procedure is completely online.
What is the deadline for registration for the MHADA lottery 2024?
The registration deadline for the MHADA lottery 2024 has been extended to September 19.
How many apartments are on offer in the MHADA lottery 2024?
There are 2,030 apartments on offer in the MHADA lottery 2024.
What is the benefit of the price reduction to homebuyers?
With the decreased prices, MHADA is passing a benefit of over ₹100 crore to homebuyers.
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