Housing experts and buyers question if the body is at all performing its duty of offering homes that are affordable
Prices of MHADA homes have crossed the Rs five crore-mark this year. This has left everyone wondering whether the housing authority of the state which is meant to provide affordable homes, is actually doing its job. In this lottery, there are homes in Cumbala Hill priced at Rs 5.80 crore, Rs 5.13 crore, Rs 4.99 crore, while in Matunga, flats are being sold at Rs 2.35 crore, in Tunga Powai, flats are being sold at Rs 1.49 crore, in Lower Parel flats are being sold at 1.36 crore. This does raise an issue whether MHADA is selling affordable homes anymore?
MHADA Chairman, Madhu Chavan says that these prices may look more, but in comparison to market rates they aren't. "The Cumbala Hill flats that are being sold at Rs 5.80 crore if you go and check the market rate you will realise that the prices are way below than the market rate. Similarly in other places where the flat costs appear to be higher it is less, than the market rate," he said.
Housing experts are surprised seeing the rates, for example, Dr Sanjay Chaturvedi, a housing expert says that, MHADA has lost its objective, which is to provide affordable homes. "Look at the prices, the prices of Rs 5 crore, Rs 2 crore show that MHADA has lost is objective, it is meant to provide affordable homes, not such expensive homes to compete with private developers."
The most expensive home of MHADA is located in the building Dhavalgiri located at Cumbala Hill, it is on the third floor of the 22 storey building and priced at Rs 5.80 crore. This flat measures 965 sq ft. There are two other flats one located on third floor and the other on the fifth floor. These flats were constructed in 2010, and have been lying vacant since 2013.
The other expensive flat is priced at Rs 2.35 crore and located in Matunga in building Tanishq Holihawk and it measures, above 1000 sq ft. Similarly the Tunga Powai flat measures above 700 sq ft and it costs Rs 1.49 crore. The Lower Parel flat measuers above 450 sq ft and costs Rs 1.36 crore.
In the previous year lottery, MHADA had put close to 36 flats for sale in Lower Parel of which two were priced at Rs 1.92 crore and remaining close to Rs 1.36 crore, however, more than two dozen winners had returned these flats and most had cited the reason behind the return as the flats being expensive.
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The most expensive home of MHADA is located in the building Dhavalgiri located at Cumbala Hill, it is on the third floor of the 22 storey building and priced at Rs 5.80 crore. This flat measures 965 sq ft. There are two other flats one located on third floor and the other on the fifth floor. These flats were constructed in 2010, and have been lying vacant since 2013.
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