The Maharashtra Housing and Area Development Authority (MHADA) is ready with 4,000 affordable homes that will be up for grabs in March 2023. For the first time in the history of MHADA, it has announced that going ahead its projects will include a slew of homebuyer-friendly amenities like swimming pools, gyms, club houses, yoga centres, and balconies (or sky decks if you please). These will be available to those who purchase middle-income group (MIG) and higher-income group (HIG) apartments.
Along with this, all new MHADA projects will include solar panels and parking for electric vehicles (EV). These amenities are being offered to make MHADA flats comparable to those offered by private developers.
The 2BHK MIG flats will have a carpet area of 794 sq ft, while 3BHK HIG flats will have a carpet area of 979 sq ft.
The pricing of the flats has not been finalised yet. But tentatively, they’re looking at charging about Rs 60-70 lakh for MIG flats, and Rs 90 lakh to 1 crore for HIG apartments. According to the criteria set by the MHADA, any Indian citizen who does not own a flat in Mumbai can apply for one in the upcoming lottery. Thus, even those who already own a home in a city like Pune, Nashik, Nagpur, etc., can apply.
Citizens will be able to register online. Once applicants register, he / she will have to submit documents including Aadhar card, PAN card, proof of income, etc. Post verification, applicants will be eligible to participate in lotteries organised by MHADA. According to the rules of Maharashtra government, one can sell one’s MHADA home purchased via lottery five years after acquiring it.
MHADA is slated to sell 2,600 homes spanning 70,000 square metres in the Goregaon (west) area of Mumbai. According to local brokers, a 1BHK flat in Goregaon (west) with a carpet area of 400-500 sq ft costs around Rs 1-1.50 crore, while a 2BHK flat with a carpet area of 600-700 sq ft costs Rs 1.50-2.50 crore. A 3BHK apartment costs above Rs 2.50 crore.
