Up for Grab Affordable Houses in Mumbai MHADA Lottery 2017
Affordable Houses Mumbai up for grab, Mumbai MHADA lottery 2017 lottery for 819 houses in Mumbai on November 10. People can apply for these houses from today September 16 to October 21 from 2.00 PM. These houses are located in places like Lower Parel, Pratiksha Nagar-Sion, Tunga in Powai, Chandivali, Mankhurd, Siddharth Nagar- Goregaon, Magathane, Mankhurd, Charkop and Malvani-Malad.
The prices range from Rs15 lakh for Sion’s Pratiksha Nagar houses to Rs 1.95 crore for Lower Parel houses. This will be a huge draw for homebuyers. As usual MHADA expect tremendous response for the houses. These are all affordable houses.
Since majority of MHADA houses are way below the market rates, there is a great demand among homebuyers for them. This can be gauged from the fact that in the last nine draws, there were more than 13.58 lakh applicants who tried their luck for the 22,923 houses put on the block.
In the last few years, the real estate has been going through a rough phase and sales dropped drastically as the builders jacked up prices to exorbitant levels. Homebuyers postponed their plans citing unaffordability and this resulted in a huge pile of inventory for the builders which ran into approximately 2.67 lakh of unsold houses in the MMR (Mumbai Metropolitan Region). Of these, Mumbai has 1.05 lakh houses.
Source Link- http://www.hindustantimes.com/mumbai-news/attention-homebuyers-819-affordable-houses-in-mumbai-up-for-grabs-in-mhada-lottery/story-42jSra6UYqDuOMO7snFASI.html