Each of the Cumballa Hill flats cost upwards of R4 crore; this year MHADA has put 900 plus houses on the block for the lower income group
The Maharashtra Housing and Area Development Authority (MHADA) has received 22 registrations for the three costliest houses (each costs over Rs 4 crore) in its lottery, in the plush Cumballa Hill. However, nobody has yet paid the deposit amount for them. The agency has also received about 18,000 applications within a week of the announcement of its lottery, as the Lower Income Group has been allotted over 900 houses from the total 1,384 in the city. Last year, two of the most expensive houses of MHADA at Lower Parel, were sold at R1.9 crore each, but were eventually returned, and this year will again be part of the lottery. This time they have been priced at Rs 1.36 crore each.
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More houses for lower strata
The last day to apply for the lottery is December 10, and it will take place on December 16. Last year, MHADA's Mumbai board lottery had received 63,864 applications for a total of 819 houses. As there was a good response for houses at affordable prices from the lower strata of the society, MHADA, this year, has over 900 houses for the Lower Income Group.
The three costliest houses by MHADA cost Rs 5.8 crore, Rs 4.99 crore and R5.13 crore depending on the area. Of the 1,384 houses, MHADA has kept barely 63 for the economically weaker section, whose earnings are less than R25,000 per month; the Lower Income Group which earns from about R25,000K to R50,000k monthly, can apply for 926 houses; the Middle Income Group, that earns between R50,000 to R75,000 monthly, has been allotted 201 houses and the Higher Income Group which earns Rs 75,000 and above monthly, has 194 houses.
MHADA speak
A senior MHADA official said, "We have registrations for houses at Cumballa Hill, but the complete application procedure is yet to be done. Unless the earnest money deposit is paid, we will be unable to know whether citizens are really interested in purchasing those properties." Sanjay Bhagwat, Joint Chief Officer of MHADA's Mumbai board was unavailable for comment.
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