The Maharashtra Housing and Area Development Authority (MHADA) is a lottery scheme, which comes under government housing schemes. In this, houses are given to the residents at affordable rates. There is also a part of this scheme under which people of poor sections can apply. In this, economically weaker sections, low income groups and middle income groups can apply.
Mumbai Board’s housing lottery scheme
The MHADA informed that the Mumbai Board’s housing lottery scheme will include 359 flats for the Economically Weaker Section (EWS), 627 flats for the Low Income Group (LIG), 768 flats for the Middle Income Group (MIG) and 276 flats for the High Income Group (HIG).
1327 are newly constructed flats
The MHADA informed that out of these, 1327 are newly constructed flats, out of which 370 flats have been obtained as housing stock from developers under redevelopment projects as per Development Control Regulations 33(5), 33(7), and 58, and 333 scattered flats have been obtained from the previous lottery.
Who can apply?
People in the income group of 6-9 lakhs have been placed in the low income group. That is, those earning a maximum of Rs 75,000 every month will come in it. Generally, a bank loan pays only half of the monthly earnings, because the person must also have money for the rest of the expenses. In such a situation, the person will not be able to get a loan with EMI more than 40,000. In general, loans up to Rs 45 lakh will be available. In such a situation, the question is how will he take a house of 70 lakhs, because after that he will have to pay separate money for stamp duty. In this lottery, a lottery of 84 houses in Goregaon under the Prime Minister’s Housing Scheme will also be drawn. The price of these houses has been kept at Rs 32 lakh. In the previous lottery, houses were taken out under this scheme here.