The aspiring homeowners in Mumbai have a reason to cheer as the MHADA [Maharashtra Housing and Area Development Authority] is offering more than 7,000 residential units under this year’s lottery Scheme. According to the sources, it is estimated that a total of 7,300 houses will be delivery in the Mumbai Metropolitan Region [MMR] under this year’s lottery scheme.
The lottery procedure is likely to commence next month and is said to be the biggest housing scheme in past six to seven years. About 4,000 housing units out of total 7,300 are being constructed under PMAY [Pradhan Mantri Aawas Yojna].
According to an official at MHADA, the authority is in the final stage of selecting a Software company in order to carry out the lottery scheme which is most certain to take place in the middle of next month i.e. August. Nearly, 2000 housing units are being built at different areas including Khon near Kalyan, and Shirdhon near Panvel. Apart from this, minimum 3,300 houses have been constructed at Virar.
The MHADA lottery Scheme has always been fulfilling the dream of lakhs of aspiring homeowners as these housing units cost budget-friendly in comparison to regular property purchase. The cost difference ranges from 20 to 25 percent. People will avail a subsidy of 2.5 lakhs to the home buyers from purchasing a flat under PMAY Scheme. The PMAY Scheme was launched by Prime Minister Narendra Modi’s NDA Government in the year 2016 with the target to offer Housing for All by 2022. Under this Scheme, both middle-income group and EWS [Economically Weaker Section] can purchase housing units in a cost-efficient manner.
The biggest MHADA lottery took place in the seven years ago in 2011 where the authority offered 5,000 houses to home buyers.