Most units are in Virar locality; prices of the houses range between Rs 4.32 lakh and Rs 40.93lakh.
MHADA has also slashed the prices of 3,755 of the 4,275 houses located in its complex at Bolinj –
In its biggest-ever draw of low-cost houses, the state housing authority will next month put 4,275 affordable houses, a majority of them for the lower and middle-income groups, on the block for sale in Virar, and a handful in other areas such as Thane, Mira Road and Vengurla.
In the lottery, to be held on February 24 at Rangsharada auditorium in Bandra, the Maharashtra Housing and Area Development Authority will offer 3,755 houses in Virar, 310 in Mira Road, 164 in Kavesar, Thane, 19 in Balkum, Thane and 27 in Vengurla in the Sindhudurg district. The draw will not feature any houses from within Mumbai, for which there would be a separate lottery on May 31. The authority is likely to advertise the sale of 1,700 to 1,800 houses for its Mumbai lottery.
MHADA has also slashed the prices of 3,755 of the 4,275 houses located in its complex at Bolinj, Virar (West). houses in this complex, a few of which the authority had sold in its lottery in 2014 and 2015, were said to be among MHADA’s most expensive houses.
The authority has now reduced the price of the 1,290 middle-income group houses it will sell through a draw on February 24 to Rs 40.93 lakh from the earlier Rs 47.43 lakh. Similarly, it has reduced the cost of the 2,465 lower-income group houses to Rs 22.65 lakh from the previous Rs 24.78 lakh. Originally, the authority had priced these flats at Rs 50.2 lakh for the middle-income group and Rs 26.2 lakh for the lower-income group.
“The reduction in cost will also apply to the houses that MHADA sold in Virar complex during the 2014 and 2015 draws. All the houses to be sold in this lottery too are almost nearing completion, and we should be able to hand over possession by April or May,” Prakash Mehta, state housing minister, said.
Mr. Vijay Lahane , Chief Executive Officer at MHADA, said the authority had tweaked various components such as administrative cost, its profit margin, provision for contingency expenditure and unforeseen expenditure to bring down the overall cost of the houses.
Of the 4,275 houses that MHADA will sell on February 24, 2,621 will be for the lower-income groups and 1,311 will be for the middle-income groups, most of them in its Virar complex. Of the rest, the authority will offer 329 houses for the economically backward classes in Balkum, Thane, and Mira Road, and six for the higher-income group category, all of which would be in Vengurla. The houses are priced between Rs 4.32 lakh for economically weaker sections for a 195-square-foot tenement in Thane to Rs 40.93 lakh for the middle-income groups for a 653.7-square-foot flat in Virar.