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.