Home Real Estate 5.3K affordable homes between Rs 9-49 lakh on sale near Mumbai

5.3K affordable homes between Rs 9-49 lakh on sale near Mumbai

by Kianna Warburton

The Konkan board of Maharashtra Housing and Area Development Authority (MHADA) has announced a lottery for the sale of 5,311 affordable homes in satellite towns near Mumbai. These homes will be available in micro-markets near Mumbai, such as Vasai, Virar, Titwala, Thane, Kalyan, Mumbra, and more. The prices of these homes will range from Rs 9 to 49 lakh.

This is the second time in 2023 that MHADA has announced a lottery for affordable homes. Over 1,000 homes will be sold under the Pradhan Mantri Aawas Yojana (PMAY), which is a government initiative aimed at providing affordable housing to economically weaker sections of society. The income cap for eligibility under the EWS (economically weaker section) category has been increased from Rs 3 lakh to Rs 6 lakh. MHADA expects a surge in the number of applications under this category due to this change.

The registration process for the lottery is completely online and can be done on the MHADA website (https://housing.mhada.gov.in/). The deadline for submitting applications is October 16, 2023, and the lottery results will be announced on November 7.

The size of the affordable homes being sold ranges from 258 to 667 sq ft carpet area. The cheapest apartments, priced at Rs 9.89 lakh, will be in Vasai and measure around 258 sq ft. The costliest apartments, priced at Rs 49.81 lakh, will be in Virar and measure around 667 sq ft. It is important to note that several of the apartments on sale are still under construction.

This lottery announcement comes shortly after the results for the Mumbai MHADA lottery 2023 were announced in August. Additionally, the MHADA’s Pune board announced the sale of 5,863 affordable homes in Pune, Solapur, Sangli, and Kolhapur in September via lottery. The apartments being sold in both cities are available in configurations of 1 RK, 1 BHK, 2 BHK, and 3 BHK.

If you are interested in applying for the MHADA lottery for affordable homes near Mumbai, make sure to check the eligibility criteria and submit your application before the deadline. MHADA’s initiative to provide affordable housing options is a great opportunity for individuals and families looking to own their own homes in these satellite towns.

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