MHADA To Bring Down Prices Of Lottery Scheme Houses For All Income Group
The Maharashtra Housing and Area Development Authority (MHADA) has decided to reduce the price of its lottery scheme houses. The authority is deciding on bringing changes in the pricing policy based on which it had decided rates of the homes they put up for the lottery. The housing authority received flak from different people and organisations after its last year’s lottery had homes priced at Rs 1.96 crore. In addition to that, many customers returned homes since the cost was unaffordable.
The objective behind the MHADA’s scheme is to provide affordable housing in the city of Mumbai. But for the past two years, the prices of the residences have been steadily increasing which has led to no price difference between houses offered by private builders and MHADA.
The customers have even called back a former chief engineer to help them decide on the pricing policy. The chief engineer is D R Hadadare who is now retired and recently received a call for help from MHADA. According to a senior official from MHADA, the Engineering department of MHADA especially the executive engineer, deputy engineer and the chief engineer take care of the technicalities.
This includes even deciding the tentative prices of the lottery scheme houses, which includes construction cost, expenditure, land cost if any, (the most land where MHADA constructs belongs to it), profit in cases of homes for Higher and Middle-income group (MIG) homes and other overheads. Post this the proposal is sent to the chief officer who then sits with the engineering department and decided the final rates.
There are four categories – Economically Weaker Section (EWS), Lower Income Group (LIG), Middle Income Group (MIG), and High Income Group (HIG). The monthly salary of a person including that of his wife to be eligible to apply in the EWS category shouldn’t cross Rs 25,000. The same for LIG is Rs 25,001 to Rs 50,000, the criteria for MIG is Rs 50,0001 to Rs 75,000 and HIG is any person earning above Rs 75,001 per month.
According to officials, the lottery scheme houses price in the coming lottery scheduled for Diwali will see a correction and in most likelihood will be affordable from what was offered in the previous year.
Source Link- https://www.dnaindia.com/