There is some good news for home buyers in the city. The Mumbai Housing and Area Development Authority (Mhada) will soon come out with a lottery for sale of 5,000 affordable houses in the city and neighbouring Mira Road in Thane district.
Mhada will conduct the lottery draw in May, while Axis Bank will provide banking assistance.
“The board has renewed its contract with Axis Bank,” said Satish Gavai, vice president and chief executive officer of Mhada. Like last year, forms will be submitted online this year.
While 3, 181 houses will be up for sale in Mumbai, 1,819 houses will be available for people from the economically weaker section and lower income group in Mira Road. Currently, these houses are under various phases of construction.
The housing projects in Powai, Magathane, Gorai, Sion, Charkop, Malvani-Malad and Kurla will be made available for the public.
“We are committed to maintain transparency in the lottery procedure. The authority has taken few decisions in this direction. The applicant must have a unique bank account and a joint account of husband and wife. Besides, the application will not be accepted by the system if the applicant doesn’t submit his/her PAN card number,” said Gavai.
He said there will be thorough scrutiny of the application forms before the lottery is held.
The scrutiny will involve a procedure where the list of winners in the last five years’ lotteries will be compared with the list of applications submitted.
“If the board comes across such an application, the board reserves the right to forfeit the EMD of the applicant after a hearing. Finally, the list of eligible applicants in the lottery will be displayed on Mhada’s website a week before the lottery,” said Gavai.