MHADA houses in Powai set to cross Rs 1 cr mark

MHADA’s affordable houses in the Higher Income Group (HIG) in Powai is set to cross the Rs 1 crore mark. The nearly 740-square foot homes, according to senior official from MHADA, have been priced at Rs 1.61 crore. MHADA’s lottery for nearly 800 homes is scheduled to be held in August. In 2014, MHADA was forced to remove 84-odd homes from the same area for being over priced, as people found them to be unaffordable.

Last week, DNA had reported on how MHADA’s 2017 lottery was delayed. This week, the authority decided to conduct the lottery in August, of which, the advertisements are expected to out next week. However, sources in MHADA say that the authorities had a tough time in increasing the number of houses and hence, they have decided to include the expensive Powai homes in the lottery, too.

The lottery will include some 168 homes from Tunga Powai, which are expected to be priced at rates above Rs 1.61 crore. “The Mumbai board is calculating the rates and what we have got so far is a very high rate of Rs 1.61 crore and above,” said a senior MHADA official.

When contacted, Subhash Lakhe, Chief Officer, MHADA’s Mumbai board, said …read more