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A Mhada flat for Rs 5.8 crore? That’s the price tag in South Mumbai

The last date for application is December 10. The draw will be held at the Mhada headquarters in Bandra (E) this time, not Rangsharda Auditorium as before.

A Mhada flat for Rs 5.8 crore? That’s the price tag in South MumbaiMUMBAI: Perhaps the most expensive flat that Mhada may have built till date will be up for grabs at its next lottery that will take place on December 16. The high-income group category flat is located in the posh Cumballa Hill locality and carries a tag of Rs 5.8 crore. A total of 1,384 homes will be available at the lottery, announced the state housing board on Saturday. The cheapest apartments are in Chandivli as the prices start from Rs 14.6 lakh.

The last date for application is December 10. The draw will be held at the Mhada headquarters in Bandra (E) this time, not Rangsharda Auditorium as before. Addressing a press meet at the Mhada headquarters on Saturday, chairman Uday Samant gave details of the categories and locations.

The economically weak section (EWS) or below poverty line (BPL) category income cut-off is set to a monthly income less than Rs 25,000 per month. TOI had reported how BPL families in Maharashtra are those classified as earning less than Rs 15,000 per annum. These households will find it impossible to purchase flats that typically cost Rs 15 lakh or so.

Those earning a monthly income of Rs 25,001-50,000 can apply in the low-income group (LIG) category. Middle-income group (MIG) buyers are classified from Rs 50,001-75,000 while those earning over this limit are eligible to purchase high-income group (HIG) flats.

EWS flats will cost less than Rs 20 lakh, LIG from Rs 20-35 lakh, MIG Rs 35-60 lakh and HIG apartments from Rs 60 lakh to Rs 5.8 crore. These days, in keeping with the trend started by private builders, Mhada does not cite the area by sq ft of the flats in question. This makes it difficult for buyers to compare costs before making an actual application which involves a sizeable sum of deposit money.

There are 63 flats up for lottery in the EWS category, 126 in LIG, 201 in MIG and 194 in the HIG segment. The locations range from Antop Hill (278 flats), Pratiksha Nagar, Sion (89), Gavhanpada Mulund (269), Mankhurd (316), Siddharth Nagar in Goregaon West (24), Mahavir Nagar in Kandivli West (170), and Tunga Powai (101). The rest of the 137 flats are in varied locations across Mumbai. Among these are apartments that have been handed to Mhada by builders under development control rules 33/5.

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