The Maharashtra Housing Area and Development Authority (MHADA) will sell a house in the plush Cumbala Hill area at a breathtaking price of Rs 5.8 crore - the costliest house to be put out in lottery by the authority. The remaining two houses in the area have been priced at Rs 5.14 crore and Rs 4.99 respectively. This comes at a time when citizens are returning overpriced houses, prompting the agency reducing its cost price.

MHADA on Saturday announced that the annual lottery's advertisement will be out on November 5 and the application process will go live for 1,384 houses on the same day. The lottery will take place on December 16. The lottery will have two houses, measuring 965 sq ft, priced at Rs 5.80 crore. The authority has 63 houses for the economically weaker section (EWS) whose earnings are less than Rs 25,000 per month. Those whose income ranges between Rs 25,000 and Rs 50,000 per month can apply for 926 houses.