MHADA homes at bargain prices in 2013 lottery

The Maharashtra Housing and Area Development (MHADA) Board will be organizing its annual lottery for low budget homes in the upcoming months. Unlike the previous years, though, most of the homes are targeted at the high income buyers.

Features and Highlights of MHADA lottery 2013

• Number of homes to be sold via the lottery: 1,239
• Number of homes for High Income group: 584
• Number of homes for Middle Income group: 355
• Number of homes for Low Income group: 51
• Number of homes for Economically weaker section: 249

Location of MHADA homes of 2013 lottery

• Tunga, Powai
• Charkop
• Magathane
• Shimpoli
• Dahisar

Rates of the homes: As yet, only the rates of the homes for the high-income group is known. The 492 homes at Tunga, Powai will cost Rs.76.6lakh. 62 other homes will cost Rs.66lakh.

Income Groups

1. Economically weaker section: Those whose monthly income is less than Rs.8,000/-
2. Low income group: Those whose monthly income is in the range of Rs.8,000/- to Rs.20,000/-
3. Middle income group: Those whose monthly income is in the range of Rs.20,000/- to Rs.40,000/-
4. High income group: Those whose monthly income is more than Rs.40,000 per month

Reference source: Hindustan Times, dt. April 23^rd 2013 (page 5)