Cheap homes coming your way

6:42 PM, Sunday, March 18th, 2012

MhadaMumbai:  There’s finally some good news for residents of Mumbai who have long nurtured a dream of owning a house in the city. The Maharashtra Housing and Development Authority (MHADA) is set to announce a lottery of nearly 3,500 homes — a majority scattered across the western suburbs — in the end of May, say sources.

While the exact dates of the lottery are yet to be announced, Vaishali Sandansingh, the chief public relations officer, MHADA, said the advertisements for the homes will start appearing in various newspapers in the coming week.

Every year, MHADA puts a few thousand homes that cost nearly 50 per cent less than the prevailing market price. More than half a million people have applied for nearly 4,000 homes in previous years.

“In accordance with MHADA policy, the homes will first be reserved for the economically weaker sections of society. Preference will then be given to lower income groups, the middle class, and finally the higher income groups,” said a MHADA official, on condition of anonymity.

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