Mad rush for housing project forms persists

The 3,863 houses will be sold through a draw of lottery in the month of March. The flats are available for the economically weaker sections (carpet area 180 sq ft),low-income category (225 to 320 sq ft),middle-income group (340 to 450 sq ft) and high- income group (570 to 920 sq ft). MHADA officials state that there is no reason for haste as forms will be available throughout the month.

“People should stay away from touts who promise them homes in return of a commission. Our system is very transparent and there is no scope for any kind of rigging,” said HK Javale,Chief Officer of MHADA’s Mumbai board.

Meanwhile,forced by the absolute lack of investors for the exorbitantly priced flats in Mumbai and realising the potential of flats for the low and middle income groups,real estate developers from the Maharashtra Chamber of Housing Industry (MCHI) have for the first time decided to hold an exhibition on Budget Property. The three-day event that will be held at Kandivli will begin on January 16 and will showcase 200 properties in the range of Rs six to 49 lakh in the western suburbs. “Banks have softened their interest rates to 8.5% for home loans up to Rs five lakh and to 9.25% for those up to Rs 20 lakh.” said MCHI President Mr Pravin Doshi. The exhibition will have properties of 30 developers .