MHADA promises cheaper homes in next year's lottery
This year the prices of some flats in the draw were very high because MHADA had to spend Rs 80 crore after claiming land that the BMC had reserved for some other purpose
If you didn’t win a MHADA home this year, then watch out for next year because prices of these flats that were inordinate this year will be lower by Rs 5-10 lakh in 2014. The authority has announced that it will come out with 3,000 homes in next year’s lottery.
This year the Powai flats were expensive because MHADA spent Rs 80 crore on building a training school for which part of the land claimed was reserved. In the forthcoming lottery the authority claims that there will be no such additional costs on flats. MHADA conducted the lottery for 1,244 homes at Rangsharda, Bandra, yesterday.
Talking about next year’s lottery, N K Sudhanshu, the chief officer of Mumbai’s MHADA board, said, “Next year, the prices will be lower because none of the projects require additional expenses as far as land is concerned.” He added, “Unlike Powai this year and Kandivli (in last year’s lottery in Kandivli, the prices were extremely high because of some BMC work), none of our projects require extra financing. So, the prices will remain affordable.”
Meanwhile, Satish Gavai, vice-president, MHADA, also announced that in next year’s lottery the authority will be giving out nearly 3,000 homes. “Of these a major chunk will come from Virar and the rest will be from Mumbai,” said Gavai. However, dangerously dangling over the 2014 lottery, is a sword called the general elections which is scheduled for May next year.
“If the election code of conduct is in force, when the lottery dates are announced, we will take the election commission’s suggestion on whether to postpone the lottery or to conduct it at the same time,” said Gavai. The flats that will be part of the next year’s lottery will be in areas like Powai, Mahim and the suburbs of Mumbai.