Unlocking Mumbai's Real Estate Potential: MHADA Auctions Plots Worth Rs. 192.26 Crore
A step towards making India a real estate powerhouse, MHADA's auctions set a new benchmark
Real EstateMumbaiMhadaAuctionsInfrastructure DevelopmentReal Estate MumbaiJul 16, 2024
Four educational plots were also auctioned, with Pragat Shikshan Sanstha acquiring a 0.46-acre plot in Malad's Malvani area for Rs. 11 crore, surpassing the base price of Rs. 10.66 crore. In Tagore Nagar, Hariyali, a 0.46-acre plot fetched the highest bid of Rs. 12.21 crore, slightly above the base price of Rs. 11.81 crore.
Navchetana Charitable Trust secured a 0.74-acre plot in Vikhroli's Kannamwar Nagar, reserved for a women's polytechnic institution, with a bid of Rs. 18.05 crore, compared to the base price of Rs. 17.75 crore. Additionally, Radhikabai Meghe Women's Education Institute won a 0.83-acre educational plot in Tagore Nagar, Vikhroli, with a bid of Rs. 26 crore, significantly higher than the base price of Rs. 21.52 crore.
The success of these auctions sends a positive signal to the real estate sector, which has been seeking government support to stimulate growth. As India strives to become a real estate powerhouse, such initiatives can play a crucial role in unlocking the country's potential.
Information
Maharashtra Housing and Area Development Authority (MHADA) is a statutory body established in 1977 to address the housing needs of the people of Maharashtra. The authority is responsible for providing affordable housing options to citizens, as well as developing and maintaining infrastructure in the state.
Maharashtra Housing and Area Development Authority (MHADA) is a leading organization in the Indian real estate sector, committed to providing quality housing and infrastructure development in Maharashtra.
Frequently Asked Questions
What is the total value of the plots auctioned by MHADA?
The total value of the plots auctioned by MHADA is Rs. 192.26 crore.
Which plot fetched the highest bid in the auction?
The 2.19-acre plot in Oshiwara, Andheri, fetched the highest bid of Rs. 125 crore.
How many educational plots were auctioned by MHADA?
Four educational plots were auctioned by MHADA.
What is the purpose of the 0.74-acre plot in Vikhroli's Kannamwar Nagar?
The 0.74-acre plot in Vikhroli's Kannamwar Nagar is reserved for a women's polytechnic institution.
What does the success of these auctions indicate for the real estate sector?
The success of these auctions sends a positive signal to the real estate sector, indicating a potential for growth and development.
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