204 MHADA homes most expensive till date

As Mumbaikars gear up for the MHADA lottery which will be held on November 10, a total of 204 homes of the total 819 homes are priced at Rs 1 crore or above.

This may come as a rude shock to hopeful homebuyers who opt for MHADA due to its affordable pricing. The costliest flat is being sold in Lower Parel at Rs 1.95 crore.

Also, the number of homes for the Economically Weaker Section (EWS) is only eight as compared to the 338 homes slotted for the Higher Income Group. The lottery is scheduled for November 10 and applications will be accepted from September 16.

In Lower Parel, there are two types of MHADA homes. First, a flat measuring 44.21 square meters (sqm) will be sold at Rs 1.95 crore. Second, 34 flats measuring 33.80 sqm will be sold at Rs 1.42 crore. In terms of pricing, Powai's Tunga flat is priced at Rs 1.39 crore for an area of 68.69 sqm.

Meanwhile, an online search shows that the current cost of flats in Lower Parel area are lower than what the housing authority is quoting. Milind Mhaiskar, VP and CEO of MHADA, said, "Trust in MHADA among the public is much higher than any online portal."