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Want to Own a MHADA Flat in South Mumbai? You May Have to Shell Out Rs 5.8 Crore

The last date for application is December 10 and the draw will be held at the MHADA headquarters in Bandra (E).

News18.com

Updated:November 5, 2018, 2:50 PM IST
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Want to Own a MHADA Flat in South Mumbai? You May Have to Shell Out Rs 5.8 Crore
Representative image/ Reuters
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Mumbai: Maharashtra Housing and Area Development Authority(MHADA)’s most expensive flat so far, which is located in the posh Cumballa Hill locality, is set to be auctioned at its next lottery on December 16.

A total of 1,384 homes will be available at the lottery, said the state housing board in a Times of India report. While the high-income group category flat costs Rs 5.8 crore, the cheapest apartments are in Chandivli as the prices start from Rs 14.6 lakh.

The last date for application is December 10 and the draw will be held at the MHADA headquarters in Bandra (E).

While those earning a monthly income of Rs 25,001-50,000 can apply in the low-income group (LIG) category, middle-income group (MIG) buyers are classified from Rs 50,001-75,000. Those earning over this limit are eligible to purchase high-income group (HIG) flats.

Keeping with the trend started by private builders, the authority does not cite the area of flats by square feet, making it difficult for buyers to compare costs.

There are 63 flats up for lottery in the EWS category, 126 in LIG, 201 in MIG and 194 in the HIG segment. The locations vary from Antop Hill, Pratiksha Nagar, Sion, Gavhanpada Mulund, Mankhurd, Siddharth Nagar in Goregaon West, Mahavir Nagar in Kandivli West, and Tunga Powai. The rest of the 137 flats are in varied locations across Mumbai.
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