Maharashtra Housing and Area Development Authority (MHADA) was established under the Maharashtra Housing and Area Development Act, 1976, to provide low-cost houses for various societal segments through a lottery system. The prime objective of MHADA is to make housing affordable for all economic sections of the society, especially those in the low-income group (LIG) and economically weaker sections (EWS). The MHADA helps people to own houses in renowned locations of Mumbai at a much lower cost than other private builders. Those eligible for the lottery system can get easy financing options like a home loan to fulfill their deposit requirements.
Here are some specifications about MHADA that you should know:
What is the objective of MHADA?
Each year, the MHADA aims to allot housing units to different income groups of the society at a much lower price than the market. Under the MHADA, a LIG flat is for Rs. 20-30 lakhs, an EWS flat is available at Rs. 14 lakhs, middle-income group (MIG) flats are available for Rs. 35-60 lakhs, higher-income group (HIG) flat is available for Rs. 60 lakhs but can go up to Rs. 5.8 crores.
What are the areas covered under MHADA?
The MHADA scheme is applicable in some specific areas of Maharashtra, including:
- Andheri
- Goregaon
- Chembur
- Borivali
- Ghatkopar
- Kurla
- Powan
- Sion
- Wadala
- Mulund
- Malad
- Santacruz
- Korekalyan
- Dahisar
- Kandivali
- Chandivali
- Jogeshwari
What are the eligibility criteria for MHADA?
An applicant who is 18 years old can apply for the MHADA lottery by providing the following documents:
- PAN card
- Aadhaar card
- Domicile certificate showing proof of residence in Maharashtra for 15 years
- School leaving certificate
- Passport
- Birth certificate
- Voter ID
Apart from these documents, applicants have to provide income proof:
- EWS: Up to Rs. 25,000
- LIG: Between Rs. 25,001 and Rs. 50,000
- MIG: Rs. 50,001 and Rs. 75,000
- HIG: Higher than Rs. 75,000
What is the procedure to apply for the MHADA lottery?
Step 1: Visit the official MHADA website – https://lottery.mhada.gov.in/
Step 2: Register yourself or log in if already registered. For a new registration, create a username and password, and fill in the required details such as name, address, date of birth, occupation, gender, marital status, and contact number.
Step 3: After logging in, fill the lottery form by providing details, such as monthly income, PAN card details, bank details, contact details, etc. The applicant will need to submit a scanned copy of the PAN card along with a passport size photograph.
Step 4: Check the available schemes under MHADA and choose one as per your needs. Each scheme has a fee.
Step 5: Pay the fee through a draft, debit/credit card, or NEFT/RTGS. In case of demand draft, a printed copy of the form with the demand draft is submitted at the bank branch office.
Conclusion
The date for the lottery winner announcement is declared each year. If a person does not win the lottery, the fee is refunded to their bank account. Those who do not win the lottery can still buy a house with easy financing options like a home loan and pay highly affordable home loan interest rates. For lottery winners, home loans can fulfill housing and related needs. By using an online home loan EMI calculator, applicants can precisely know the sum due each month and budget accordingly to buy their house.
