MHADA site gets 91,000 hits on registration day
Despite the ongoing lull in the real estate sector, day one of registration yesterday for the upcoming MHADA lottery saw the housing authority’s website witness over 91,000 visitors for the 2,641 housing units up for grabs.
Realtors claim the primary reason why people prefer MHADA housing projects is that they have clear titles. File pic
Sources in MHADA claimed is was the highest response the housing body has received for any of its lotteries till date. MHADA officials claimed the overwhelming response was due to its affordable housing prices. “Our rates are 30 to 40 per cent lower that the existing market rate. We are offering affordable homes.
The builders have missed the plot of providing low-cost houses. Now, when the government is asking them to construct such projects, they are unhappy with it,” said Yusuf Abrahani, MHADA’s Mumbai board chairperson.
'Blame ex-civic cheif'
Commenting on the issue of building affordable housing projects, realtors cited former municipal commissioner Subodh Kumar’s tenure — and the non-issuance of permissions for numerous upcoming projects — as one of the major reasons for sluggish sales in the realty sector. They added that paying the premium for fungible FSI meant extra expenditure for realtors.
“We aren’t just talking about topnotch builders, but even those constructing the so-called affordable homes in the extended suburbs have been hit hard,” a builder from eastern suburbs said. “We gave various offers, but people exhibited reluctance while investing in our projects, the market is bad. Even small financial transactions cheer us.”
Prakash Rohira from Kkarma Realtors claims the primary reason for people preferring MHADA flats is because of clear titles. “People don’t want to invest in projects that might get stuck. The Adarsh scam set an example for each one of us, and due to it the entire industry has suffered.
Then there is the pricing. MHADA quotes lesser rates than those offered by private builders. Saying that MHADA fulfils the promise of delivering flats on time is a little too much, but people do believe in them over a regular builder. So the response for their projects is better,” he said.
'Government at fault'
Realty expert Ajay Chaturvedi blamed the government for the lack of affordable homes in the city. “They (builders) are here to do business and if given higher floor space index and tax benefits, builders will surely be able to sell flats at affordable rates. MHADA is a government-run organisation and gets land for free. So their prices are lower,” he said.