For millions searching for their dream home in the city at an affordable rate, the wait is finally over. The Mumbai board of the Maharashtra Housing and Area Development Authority (MHADA) will announce the fourth consecutive housing lottery for more than 4,000 houses on Wednesday.

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“This will be a record in the history of Mhada and the Mumbai board,” said board chairman Amarjit Singh Manhas.

He added that 4,034 houses will be sold through lottery. “This is the first time the authority is conducting an online lottery for the houses. Those who wish to opt for it have to log on www.lottery.mhada.maharashtra.gov.in and fill the form. They then have to take a printout of it, sign it and submit after affixing a photograph, to their nearest Axis bank,” said Manhas.

MHADA officials have claimed that after the introduction of the online lottery, they expect the time consumed in scrutiny of forms to reduce. “The form will not be uploaded till all the information asked is correctly filled,” said a senior MHADA official. The forms will be accepted at all the 75 branches of Axis bank in Mumbai as well as in the rest of the state.

The last date for submitting the forms is May 16. MHADA has kept three additional days as grace period. The lottery will be held on May 31.

“The software for the online submission has been designed in such a manner that it can receive 5,000 applications per minute. The authority is confident that the system will be able to handle the pressure. Moreover, the website will be on for 24 hours and there is no need to jump on to it once it opens on Wednesday morning,” he said.