Published & Updated as on - 2010-03-26

Homebuyers can rejoice as the Maharashtra Housing and Area Development Authority (MHADA) would now throw open the sale of 5,648 low cost houses this year-end.

These houses are available in places such as Sion, Versova, Mahim, Borivali, Malad, Powai, Wadala and Goregaon.

Talking to Hindustan Times, a senior MHADA official, who spoke requesting anonymity since the Assembly session is on, said that construction is going on in full swing. “We will invite applications at the end of the year. This is the part of our goal to create at least 1 lakh houses in the next five years,” said the official.

In this draw, a major portion – 3,235 flats – have been kept aside for the Economically Weaker section (EWS) with only 403 flats set aside for the High Income group. “Our main aim is to target the poor sections,” said the officer.

Before the new applications, MHADA will draw the lots of its previous scheme of 3,449 houses in April and consequently start the allotment process.

Since 1977, MHADA has constructed 4.18 lakh houses across the state—the highest being in Mumbai—2 lakh units.

With hardly any land available, MHADA is working with private builders.

Being a government body, MHADA is offered extra Floor Space Index (FSI), which it intends to pass on to the private builders and in return get some flats to sell on affordable prices.

In addition to MHADA, City Industrial and Development Corporation (CIDCO) would also start its sale of its 1,344 flats in its newly built township at Ulve from mid-April.

Source : Hindustan Times 25/3/10