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.
Related News Articles
Concorde Boosts Bangalore Presence with Strategic Land Acquisition on Sarjapur Road
Real estate developer Concorde acquires 1.6-acre land parcel on Sarjapur Road, Bangalore, to develop a high-rise residential complex with a GDV of Rs 200 crore.
Anupam Kher's Latest Investment: A ₹3.88 Crore Office Space in Mumbai's Andheri Area
Bollywood actor Anupam Kher has purchased a commercial office space in Mumbai's Andheri area for ₹3.88 crore, while other actors like Kangana Ranaut and Ajay Devgn have also invested in commercial properties to earn high rental yields.
Arvind SmartSpaces Expands with New Residential Project in Bengaluru, Aiming for Rs 600 Crore Revenue
Arvind SmartSpaces Limited (ASL) has launched a new residential project in Bengaluru, enhancing their portfolio and targeting a top-line potential of Rs 600 crore. The project, located on ITPL Road near Whitefield, is poised to strengthen the company's pr
Maharashtra Accelerates Infrastructure Development to Reach Trillion-Dollar Economy Goal
Under the leadership of Chief Minister Eknath Shinde, the Maharashtra government is aggressively pushing forward with numerous infrastructure projects to drive economic growth and achieve its vision of becoming a trillion-dollar economy.
Wells Fargo to Relocate Its Headquarters to San Francisco: Plans and Implications
Wells Fargo, one of the largest banks in the United States, is reportedly planning to move its headquarters to San Francisco. The bank has hired Eastdil Secured, a real-estate investment bank it sold in 2019 but still maintains a minority stake in, to adv
Maharashtra Introduces 'One State, One Registration' Scheme by April
Mr. Binwade, the Chief Executive of the Maharashtra Government, has announced the launch of the 'One State, One Registration' scheme by April. This new initiative will simplify the process of property registration, allowing residents to execute sale deeds