In the ongoing lottery for the sale of 4,082 apartments in Mumbai, nearly 1,20,144 applications were submitted to the Mumbai Board of the Maharashtra Housing and Area Development Authority (MHADA), and 519 crore rupees in earnest money deposits were received in response.
This information was obtained over a month after the deadline for applications to the housing lottery. After a final decision, August 14, the day just before Independence Day, has been chosen as the date for the lottery draw for 4,082 MHADA (Maharashtra Housing and Area Development Authority) properties.
When an average is calculated, the Mumbai Board of MHADA received a total of Rs43,198 for each application.
Earnest deposit differ according to income categories
The earnest deposit amount ranges according to the four income groups, with applicants from the Economically Weaker Section (EWS) being required to pay a minimum of Rs. 10,000 as an earnest deposit and an additional Rs. 590 as a non-refundable processing charge for each application.
High Income Group (HIG) candidates are additionally liable for a processing charge of Rs. 590 and an initial payment of Rs. 1,50,000 for each application.
Rs. 50,000 and Rs. 1,000,000 are the refundable deposit amounts for the Low Income Group (LIG) and Middle Income Group (MIG), respectively.
Apartment according to income categories
1,947 of the 4,082 apartments are part of the Pradhan Mantri Awas Yojana (Urban), for which 22,472 applications have been submitted. It has 89,384 applications for the 1,877 apartment buildings in the LIG category. There are 8,395 applications on the list for 138 MIG units. Additionally, 2,068 applications have been received for the 120 HIG units.
Some of the areas where residences are available in the present lottery draw include Sion, Juhu, Tardeo, Kandivali, Ghatkopar, Goregaon West, Powai and Vikhroli.
Ministers are expected to attend
On the fateful day of the lottery on Wednesday, the chief minister Eknath Shinde, deputy chief minister Devendra Fadnavis, as well as housing minister Atul Save will all be in attendance at Rangsharda Auditorium.
In a press conference, Atul Save said that rather than buying property to create these housing projects, the government will consider how to encourage the process of redevelopment in the island city.
The government organisation will keep the money in reserve until the lottery day will be held on 14th August.