‘Mhada flats still cheaper than market rate’
Mumbai: Mhada has said certain expensive apartments in its upcoming lottery of November 10 are still cheaper than those offered by private builders.
Mhada chief officer (Mumbai board) Subhash Lakhe responded to the TOI news report on Saturday, which showed how at least 200 flats in the upcoming lottery of November 10 cost Rs 1.4 crore to Rs 2 crore.
Lakhe said he wished to clarify that the housing board flats were cheaper than market rate. “For instance, much is being said about our HIG flats in Parel which cost Rs 1.4 crore to Rs 1.95 crore. Private builders in this locality are selling houses at the rate of Rs 37,000 per sq ft whereas our flats are priced Rs 30,307 per sq ft. Mhada flats and tenements are big, and at least 20% cheaper than private homes. We calculate sale prices based on ready reckoner rates,” he said.
Citizens have complained that the housing board has abandoned its mandate of providing affordable housing to low and middle income groups.