2,465 of the 3,755 MHADA housing units in Virar will have 98% loading; new ratio between sellable and carpet areas flummoxes private developers, state housing minister alike
Looks like the Maharashtra Housing and Area Development Authority (MHADA) has finally managed to beat private builders hands down.
Also Read: 4275 affordable homes up for grabs in February
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A file photo of MHADA’s housing project in Virar while it was under construction
Based on a recently published advert, it has come to the fore that carpet area for 2,465 housing units in Virar, up for grabs during its annual lottery in February 24, is a just over 50 per cent of the total sellable area. For example, a lottery winner will get a carpet area of just 30.68 sq m despite paying for the sellable area of 60.4 sq m.
Read Story: MHADA goes the builder way, sells on built-up area
This policy will be applicable to 3,755 housing units built for Lower Income Group (2,465 homes) and Middle Income Group (1,290 homes).
Hogwash
“MHADA has broken its own record of fooling the common man. Earlier, winners would get up to 70 per cent of the total sellable area, but this time there is no difference between carpet and loading areas. This means a winner pays double for half. Being a government body, MHADA shouldn’t be doing this. They are here not to make profits. This means there’s no difference between them [MHADA] and private developers,” said Prakkash G Rohira of Karma Realtors.
Also Read: Won the MHADA lottery? Check the fine print
He claimed that if MHADA is charging for sellable area, it means the actual cost of the property is lower. Winners end up paying for sellable area instead of carpet area.
Architect Arqam Shaikh of ARC Associates claimed that this year MHADA has surpassed private developers. Shaikh said most private developers these days implement loading up to 50 per cent, and 70 per cent in rare cases.
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