Mumbai, August 29: The Maharashtra Housing and Area Development Authority (MHADA) on August 28, announced a slash in the prices of 370 flats out of the 2,030 flats put on sale as part of the MHADA Lottery 2024 scheme. The MHADA reduced the prices up to 10 to 25 percent of the previously set amount while also extending the registration deadline to September 19 from the earlier September 4.

Out of the 370 flats with reduced prices, 226 are reserved for two sectionsтАФthe Economically Weaker Section (EWS) applicants with a 25 percent reduction in rates and the Low-Income Group (LIG) applicants with a 20 percent reduction. Another 118 flats are reserved for Middle-Income Group (MIG) with a 15 percent reduction. A 10 per cent reduction in rates of 24 flats was reserved particularly for the High-Income Group (HIG). MHADA Lottery 2024: MHADAтАЩs Mumbai Board Announces Lottery for Sale of 2,030 Flats, Online Registration To Begin on August 9; Check Details.

Housing Minister Atul Save Unveils MHADA Mascot, Announces Reduction in House Rates Under MHADA Lottery

The reduction in prices was announced by the State Housing Minister Atul Save in an event held at the┬аBharat Ratna Gulzarilal Nanda Auditorium at the MHADA's Mumbai headquarter. He also unveiled the MHADA Mascot during this event. These 370 flats, as per the MHADAтАЩs Vice President and CEO Sanjeev Jaiswal, were from the redeveloped MHADA layouts and "cess" buildings located in Mumbai. However, the other houses in the lottery were constructed by MHADA itself.┬аDDA Housing Scheme 2024 Online Registration Begins at dda.gov.in; Know Eligibility, Price, Required Documents and How to Apply for Over 40,000 Flats Up for Sale in Delhi.

The price deduction came after certain segments of applicants expressed concerns about the high prices of the flats offered. However, the MHADA claimed that even the seemingly high prices did not deter application numbers, as they had already received over 20,000 applications. Regardless, the MHADA has still reduced the prices of some flats to make them more affordable.

(The above story first appeared on LatestLY on Aug 29, 2024 04:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).