HomeDaily NewsThe Indian Express: 22 people show interest in MHADA’s costliest flats.

The Indian Express: 22 people show interest in MHADA’s costliest flats.

These 22 applicants are yet to pay the Ernest Money Deposit (EMD) of Rs 75,000. Sources said the applications will be confirmed only after the EMD is paid.

IN THE first week since the Maharashtra Housing and Area Development Authority (MHADA) opened applications for its annual housing lottery, 22 applicants have shown interest in its priciest offerings — three flats sized over 850 square feet and priced between Rs 4.99 crore and 5.8 crore — in Dhawalgiri Apartments at Cumballa Hill.

These 22 applicants are yet to pay the Ernest Money Deposit (EMD) of Rs 75,000. Sources said the applications will be confirmed only after the EMD is paid.

On November 5, the MHADA opened applications for the Mumbai board housing lottery, offering 1,384 homes at different locations in the city. A senior MHADA official said, “The response for the overall lottery is good, but for the homes at Grant Road (Cumballa Hill), we have got received only 22 registrations.”

The lottery includes 63 flats for the Economically Weaker Section (EWS), 926 homes for Lower Income Group(LIG), 201 homes for Middle Income Group (MIG) and 194 homes for Higher Income Group (HIG).

In HIG category, the MHADA has included 44 flats located in south Mumbai, priced between Rs 99 lakh to Rs 5.8 crore. Out of these, three flats in Cumballa Hill, measuring 884.79 sq ft, 983 sq ft and 859 sq ft are the costliest flats ever offered by the MHADA. These cost Rs 5.13 crore, Rs 5.8 crore and Rs 4.99 crore, respectively.

While housing experts have claimed that these three homes will fail to draw interest, MHADA officials said that the interest in the flats is expected to peak by the end of the month.

As on Monday, MHADA has received over 17,000 applications for its 1,384 flats. The result of the online lottery will be declared on December 16 and the last date for payment of the EMD is December 10.