Over 8.5K bidders for 8 EWS houses in MHADA lottery

More than 8,500 homebuyers have applied for eight houses of the economically weaker section in the Maharashtra Housing and Area Development Authority (MHADA).

Also, nearly 100 applications have come for two homes that are the most expensive houses located at Lower Parel worth Rs 1.95 crore. The authority claims that the response is satisfactory, considering the ratio of total number of houses and applications.

The lottery is scheduled to be held on November 10, at Rangsharda auditorium at Bandra West.

Over 78,000 have applied so far out of which 60,000 have paid the deposit. The last day for making online payment towards the earnest money deposit was Thursday.

Buyers opting for demand drafts have two more days to make the deposit payment.

Speaking exclusively to the Free Press Journal, Subhash Lakhe, Chief Executive Officer of Mumbai Board, said, “The response is very satisfactory. Technically, more than 1,000 homebuyers are bidding for each of the eight houses of EWS since the total number of applications have already crossed 8,500. The lottery this year has received a substantial number of applications considering the current real estate market conditions.”

The 34 HIG flats which costs Rs 1.42 crore, located at Lower Parel, have received nearly 400 applications, whereas, 168 flats at Powai have received 1,500 applications.

Interestingly, more than 30,000 homebuyers have successfully applied for 192 houses of the lower income group, whereas, over 5,000 applications have been received for the 338 higher income group houses. The middle-income group with 192 houses has attracted nearly 15,000 homebuyers so far.\ The LIG has 192 houses located in areas like Kannamvar Nagar Vikhroli, Charkop-Kandivali, Siddharth Nagar-Goregaon, Chandivali, Mankhurd, etc.