Located in Tardeo area of Malabar Hill Division, each flat measures around 1,500 sq ft and are way above the average size of tenements that MHADA offers in rehab component.
Eight flats with two car parks each, in one of the most upmarket areas of the city, landed in Mhada's kitty earlier this month. Located in Tardeo area of Malabar Hill Division, each flat measures around 1,500 sq ft and are way above the average size of tenements that MHADA offers in rehab component.
Confirming the same, a Mhada official said, "Mhada has received these flats admeasuring close to 1,500 sq ft from a reputed developer." These flats, with a total area of 1324.84 sq mt were handed over to the housing authority on September 3.
These flats will be up for grabs in the upcoming Mumbai Board's lottery. This is the highest number of flats procured by Mhada in South Mumbai area.
Under redevelopment projects, developers surrender the surplus component to Mhada after rehabilitating the existing tenants and selling homes under sale component. When contacted Satish Lokhande, chief officer of Mumbai Repair Board of Mhada, he said, "Big flats like these that Mhada gets from developers are usually put up in the lottery."
In December 2018, the housing authority had put up three flats in Nana Chowk area in lottery all priced in several crores and were among the costliest flats sold by Mhada. While one was priced at Rs 5.80 crore, and the other two were sold at Rs 5.13 crore and Rs 4.99 crore. All these three flats measured less than 1,000 sq ft.
The flats that MHADA has got in Tardeo's BB Nakashe Road, here each flat currently cost Rs 6 crore and above. A broker from the area said, "If you go by the current rate here, the flat costs Rs 40,000 per sq ft. Going by the rate, these flats would also cost close to Rs 6 crore."
However, the housing society will be selling these flats at a rate less than the market rate like it did in the previous lottery for the flats in Nana Chowk area.
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