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MHADA Mumbai Board’s flat for Economically Weaker Section costs whopping ₹30.71 lakh!

It is indeed a thing worth appreciating that MHADA has reserved so many flats for financially weaker people. However, the question here is that how are these people going to be able to afford the houses

MHADA Mumbai Board’s flat for Economically Weaker Section costs whopping ₹30.71 lakh!
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The question of when the lottery for Maharashtra Housing and Area Development Authority (MHADA) Mumbai Board’s flats will be declared has surely puzzled everyone. However, the bigger question is that why are the flats for Economically Weaker Section (EWS) priced at ₹30.71 lakh! What looks like either a blasphemy or a terribly tragic joke, the prices for the flats for the EWS are awfully high. The lottery for the Mumbai Board flats will be declared soon and the prices for these flats are definitely amusing. 

The price for Mumbai Board’s EWS flats at Antop Hill have been fixed at ₹30.71 lakh. However, these people earn ₹10,000-₹25,000 per month and even after taking a housing loan to pay for the flats, how are the people supposed to pay the ₹25,000-₹28,000 installments for the housing loan to the bank?   

MHADA President Uday Samant on Friday announced that the advertisement will be published soon for 1,194 houses in Mumbai. Accordingly, the lottery will consist of the groups such as EWS along with Lower Income Group (LIG), Medium Income Group (MIG) and High Income Group (HIG) houses which have been constructed at Antop Hill, Wadala, Pratiksha Nagar, Mankhurd, Gavhan Pada, Ghatkopar, Goregaon, and Parel. Amongst the 1,194 flats, 480 have been reserved for EWS whereas 293 houses have been reserved for LIG.

It is indeed a thing worth appreciating that MHADA has reserved so many flats for financially weaker people. However, the question here is that how are these people going to be able to afford the houses. The information about the prices of the houses was disclosed after the housing board declared the approximate prices of the houses reserved for EWS and LIG.

At some places, the price for EWS flats is around ₹27 lakh whereas, at some places, the houses cost around ₹29 lakh. However, the costliest houses are the ones at Antop Hill which have a soaring price of around ₹31 lakh.  Meanwhile, the bank may not approve the housing loan for a person under EWS, i.e. earning less than ₹25,000 per month. So, there is a possibility that the EWS flats at Mumbai’s Antop Hill might go unsold.

Samant also confirmed that he too thinks that the houses for EWS are a bit expensive. However, there is a possibility that the prices of the flats at Mumbai might drop down. But the prices may only lower down to a lakh or two and so, there is a strong possibility that MHADA might face an upset this time during the sale of the EWS houses. 

  • Antop Hill, Wadala EWS (278 houses) - ₹30.71 lakh
  • Pratiksha Nagar, Sion EWS (83 houses) - ₹28.70 lakh
  • Pratiksha Nagar, Sion EWS (5 houses) - ₹16.40 lakh
  • PMGP, Mankhurd EWS (114 houses) - ₹27.26 lakh
  • Gavhan Pada, Mulund LIG (267 houses) - ₹30.7 lakh
  • Pant Nagar, Ghatkopar MIG (2 houses) - To be decided 
  • Tagore Nagar, MIG (7 houses) - To be decided
  • Pant Nagar, OB HIG (2 houses) - To be decided
  • Sahkar Nagar HIG (8 houses) - To be decided
  • Siddharth Nagar, Goregaon LIG (24 houses) - ₹31.85 lakh
  • Mahavir Nagar MIG (170 houses) – ₹58.66 lakh
  • Badani Bori Chawl, Parel (68 houses) - To be decided
  • Houses under 33 (7 houses), (28 houses) - To be decided
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