MHADA houses to be cheaper this year

Oct 13, 2018, 09:30 IST | A Correspondent

The housing authority has also decided to slash the rates of the houses it gets from developers

MHADA houses to be cheaper this year
File Pic

In a bid to offer houses to buyers at much cheaper rates, the Maharashtra Housing Area and Development Authority (MHADA) has decided to reduce the prices of those it gets from developers. Not just this, even the rates of the houses constructed by MHADA and offered through lottery, will be 30 per cent less compared to last year. Hence, the houses that were sold for Rs 1.4 crore last year will now cost Rs 99 lakh.

According to sources, of the total 1,194 houses that are expected to be part of the lottery, MHADA will get 146 from builders. "The 146 homes will be sold at 70, 60, 50 and 30 per cent of ready reckoner rates for higher income groups, middle income groups, lower income groups and economic weaker sections, respectively," said an official.

Sources further said that even though the rates for the houses constructed by MHADA will be slashed by 30 per cent, the prices would include the depreciation cost of those constructed three to four years back.

Speaking to mid-day, Uday Samant, Shiv Sena leader and MHADA president, said, "If Sena was given the power to take such decisions earlier, then citizens would not have suffered due to the steep prices of houses. There are many factors that have been considered. We want to give houses at affordable rates, as that's the ultimate aim of MHADA."

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