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In a significant move, the Maharashtra Housing and Area Development Authority's (MHADA) Konkan Board has announced an extension to its application deadline for the much-anticipated 2023 affordable housing lottery. Originally set to conclude on October 16, the new deadline is now November 15, giving potential homeowners an additional month to secure their spot.
The lottery promises to offer over 5,300 homes located in satellite towns around Mumbai, notably Thane, Virar, and Vasai. These homes are attractively priced between approximately Rs 10 lakh to nearly Rs 50 lakh, positioning them ideally for both first-time homeowners and those seeking an upgrade.
Notably, out of these, more than 1,000 homes are to be issued under the banner of the Pradhan Mantri Awas Yojana (PMAY). This central government initiative aims at enhancing affordable housing access for residents belonging to low and middle-income categories. Recently, the Centre increased the income criteria for the EWS category under the Pradhan Mantri Awas Yojana - Urban (PMAY-U) from Rs. 3 lakh to Rs. 6 lakh in the Mumbai Metropolitan Region (MMR). Thus, salaried individuals with annual income up to 6 lakhs can apply for houses under PMAY. With this change, MHADA expects more people to apply under the lottery scheme.
As per the details shared by MHADA, the most affordable units in the lottery, covering a carpet area of 258 sq. ft., are priced at Rs 9.89 lakh and are located in Vasai. On the other hand, the premium segment, encompassing a generous 667 sq. ft., bears a price tag of Rs 49.81 lakh and is situated in Virar. It's noteworthy that many of these units are currently under construction, indicating the freshness and modernity of the structures.
While the buzz around Mumbai's housing lottery continues, it's essential to highlight the Pune board's announcement from earlier in September. They declared a lottery for the sale of budget-friendly homes across Pune, Solapur, Sangli, and Kolhapur. The pricing spectrum for these units ranges from Rs 5 lakh, reaching up to an impressive Rs 1.11 crore. These apartments vary in size, with the smallest covering 204 sq. ft and the largest stretching over 1,087 sq. ft.
In conclusion, the extension of the application deadline for MHADA's 2023 affordable housing lottery underscores the state's commitment to ensuring more residents have access to quality housing. With diverse pricing options and sizes, these lotteries offer a golden opportunity for many to realize their dream of owning a home in one of India's most sought-after regions.
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