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DNA: After people return homes, MHADA decides to bring down prices.
MHADA Lottery Picture for representation.
Finally the Maharashtra Housing and Area Development Authority has decided to reduce the price of its houses. The authority is deciding on bringing changes in the pricing policy based on which it had decided rates of the homes they put up for lottery. The housing authority received flak from different people and organisations, after its last year’s lottery had homes priced at Rs 1.96 crore. In addition to that, many customers returned homes since the cost was unaffordable.
Not only this they have even called back a former chief engineer to help them decide on the pricing policy. The chief engineer is D R Hadadare who is now retired and recently received a call for help from MHADA. According to a senior official from MHADA, “The Engineering department of MHADA especially the executive engineer, deputy engineer and the chief engineer take care of the technicalities.
This includes even deciding the tentative prices of the home, which includes construction cost, expenditure, land cost if any, (most land where MHADA constructs belongs to it), profit in cases of homes for Higher and Middlce income group homes and other over heads. Post this the proposal is sent to the chief officer who then sits with engineering department and decided the final rates.”
When contacted Hadadare, he confirmed that he has been called by MHADA, and it is to decide upon the pricing policy of MHADA homes.
A senior official says that the over heads which ar unvesseary and can be avoided will be removed from the pricing policy from all the four categories, this will help bringing the prices down. The reason for them involving Hadadare is because he headed the engineering department and can help them cut the over heads.
There are four categories — Economically Weaker Section (EWS), Lower Income Group, Middle Income Group, and High Income Group. The monthly salary of a person including that of his wife to be eligible to apply in the EWS category shouldn’t cross Rs 25,000. The same for LIG is Rs 25,001 to Rs 50,000, the criteria for MIG is Rs 50,0001 to Rs 75,000 and HIG is any person earning above Rs 75,001 per month.
According to officials the home prices in the coming lottery scheduled for Diwali will see a correction and in most likelihood will be affordable from what was offered in the previous year.
Many winner have even returned the home
In November 2017, MHADA had put 36 homes in Lower Parel area on sale, while two flats were sold at Rs 1.96 crore each, the remaining 34 were sold at Rs 1.42 crore each. However, of the 36 lottery winners, 29 have willingly given away their claim on the flats. This mean close to 80 per cent of winners here have refused to take the homes they won in the lottery. The reason cited by most of the winners who refused the flats is that the prices of these flats are expensive and they cannot afford it.
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