When it comes to buying a house in Mumbai, it seems next to impossible. But, buying under MHADA gives us some respite as these homes are less expensive as compared to private builders. If you planning to buy a house through MHADA in Powai’s Tunga area, then be ready to burn a hole in your wallet. The cost of these flats sums up to INR 1.61 Cr which will be sold in August in a lottery system. In total, MHADA will sell 784 flats across Mumbai.
In Powai’s Tunga area, there are 168 homes which are of 740 sq ft. In 2014, MHADA constructed three buildings, 22 storeys each, were constructed for the HIG-2 category. Amongst which, there were 84 flats which are of 740 sq ft. These homes were ready but were not put up for lottery owing to its high price.
According to the experts, the cost of the flats increased due to the land cost increased owing to various taxes. MHADA officials believe that HIG buildings will not affect the low-income group and middle-income group houses and the cost will remain low.
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