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Mumbai: Mhada flat prices slashed, schedule revised

Thursday, 29 May 2014 - 6:25am IST | Agency: dna

In a relief to thousands of applicants opting for 'affordable housing' of the Maharashtra Housing and Area Development Authority (Mhada), the authorities have not only reduced the prices of flats put up for sale this year, but also extended the last day for applying for the same.

The prices of apartments have come down in the range of Rs26,862 to Rs 3,99,500, depending upon the income categories, size of the home as well as it's price tag. The least dip in the rate is of Low Income Group unit at Vengurla in Sindhudurg, whereas the maximum cut is for High Income Group apartment at Shailendra Nagar, Dahisar.

Prices of homes under Economically Weaker Section category at Mankhurd and Magathane (Borivali) has been reduced by Rs77,300 and Rs75,500, respectively. Similarly, Low Income Group unit at Kurla is cheaper by Rs1,15,300 to Rs19,23,000.

Affordable priced home hunters were upset with the fact that the Mhada had overpriced the rates of the homes. Before the Lok Sabha elections, the officials were reluctant in bringing down the prices. However, the decision to cut the prices was taken after the election results were announced. Prices of the homes put up for sale last year through lottery were also priced as per market rates, but Mhada officials as well as the chief minister was reluctant in lowering the rates.

"There is a possibility that those parties who are interested in applying for lottery draw are reluctant due to the high prices, that is why we thought to extend the last date for application so that such individuals can also participate," said an official.

After the revision in the prices was made official on Wednesday, the authorities decided to extend online registration and submission of applications along with rescheduling the date of lottery draw. Wednesday was the last day to register online, but as per the revised schedule people can do it till June 7. Similarly, they can apply for the tenements till June 9.

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