The 1327 new apartments and 708 unsold apartments from the previous year’s inventory were available when the Maharashtra Housing and Area Development Authority (MHADA) launched its lottery for the year 2024 on Friday.
Every time MHADA has more unsold inventory than a thousand apartments, a lottery is held. MHADA held a lottery for 4,000 apartments last winter. These flats, according to sources, are priced between 40 and 50 percent less than the ready reckoner rate, making them a desirable option for anyone searching for reasonably cost property.
The most costly apartment on the list is a 1532 square foot, unsold apartment at Tardeo that was listed for ₹7.58 crore last year. The housing body got 246 applications on the first day of the lottery, of which 132 candidates paid the token price, which ranges from ₹25,000 to ₹1 lakh. A 982 square foot apartment in Powai, listed for ₹1.79 crore, was one of the most sought-after residences. A comparable-sized apartment in this location is listed for more than ₹2.50 crore on the open market. Seven people applied for this residence in the first few minutes after the lottery opened.
Applications for the MHADA lottery 2024 must be submitted by September 4 at 11:45 p.m. The September 13 lottery results will be made public at 11:00 a.m.
Source: Hindustan Times
