There are several schemes under the Maharashtra Housing Development Authority of MHADA that aims to give its residents access to affordable living quarters.
Under this scheme, there are several low-cost houses that are allotted to applicants through the Maharashtra lottery system.
Applicants for this scheme are segregated according to their annual incomes. Elaborating further on the MHADA lottery scheme in Maharashtra –
Eligibility To Avail Of This Scheme Under RERA Maharashtra –
Individuals looking to avail these houses through the Maharashtra lottery scheme should comply with the following eligibility criteria –
- Applicants must be above 18 years of age.
- They must be able to provide a domicile certificate to prove that they are residents of Maharashtra.
- Applicants must be salaried and should have a PAN card.
What Does The Scheme Entail?
Under this scheme, individuals from different income groups can avail housing units at the following discounted pricing –
- Units for Economically Weaker Section applicants are priced at Rs. 20 Lakh.
- Houses for Lower Income Groups costs between Rs. 20 Lakh to Rs. 30 Lakh.
- Units allotted for Mid-Income Group applicants are priced between Rs. 35 Lakh and Rs. 60 Lakh.
- Residential properties to be sold to High-income Group applicants are priced between Rs. 60 Lakh and Rs. 5.8 Crore.
The allotment of these houses among applicants depends on MHADA lottery result, which is announced periodically.
Individuals can then proceed to finance the purchase of these housing units by applying for a home loans from any financial institutions in India.
Eligible candidates can also avail PMAY benefits to finance the purchase of their houses at an even lower cost.