October 31, 2017

 

Unlike the two houses that cost U.95 cr each, there were 9,145 applications for just 8 affordable ones

THE two most expensive houses of MHADA at Lower Parel have got a mild response, as only 86 applicants showed interest in buying them. But interestingly, there were a total of 9,145 applications for just eight houses in the economically weaker section (EWS), bringing back the importance of affordable housing in the city. The MHADA's delayed lottery for houses re-ceived 63,864 applications for 819 houses.

The two costliest MHADA houses are in Lower Parel's City View apartment, measuring 475 square feet and are priced at a whopping Rs 1.95 crore each. The eight EWS houses are within Rs 25 lakh for each. The MHADA lottery will be drawn on November 10. MHADA has the lottery in four categories; Economically Weaker Section (EWS), Lower Income Group (LIG), Middle Income Group (MIG) and Higher Income Group (HIG).

There are 9,145 applications for just eight houses of EWS, and 32,952 applications for 192 LIG houses — these are the ones sold by MHADA at no profit. There are 16,321 applications for 281 M1G houses and just 5,446 for 338 HIG houses.

It is for the first time since the real estate industry is at its peak, that a government agency developed to provide housing at nominal and affordable rates to residents, has come up with such high valuation of the houses. Further, the authority has not spent any charges in developing these two houses, as it is the surplus housing stock that has been handed over to it.

A senior MHADA official said, "The response of 5,400 odd applicants for just 338 HIG houses is huge, and this proves that there are people who want to own a bigger house in the city at rates less than the market price. Also we are in the process of constructing EWS houses, which will be seen in the coming lot teries in next few years:"

Subhash Lakhe, chief offi-cer of MHADA for Mumbai board was not available for comment.

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Source: mchi.net