MHADA Lottery 2023: More than 16,000 applications for 4,083 Mumbai homes in a week

Out of the 16,476 applications, 7,665 applicants have already paid the earnest money deposit for MHADA lottery 2023.

The Maharashtra Housing and Area Development Authority (MHADA) has received over 16,000 applications for 4,083 homes a week after it announced the lottery for Mumbai.

The apartments are priced between Rs 24 lakh and Rs 7.57 crore, ranging from 200 sq ft to 1,500 sq ft. The last date for submission of application is June 26. The results of the lottery will be announced on July 18, 2023.

The 4,083 homes put on sale in the Mumbai real estate market by MHADA are meant for all sections -- the Economically Weaker Section (EWS), the Lower Income Group (LIG), the Middle Income Group (MIG), and the High Income Group (HIG).

According to data provided by MHADA, for the 4,083 apartments, it has received 16,476 applications and 7,665 applicants have already paid the earnest money deposit.

Also read: MHADA lottery 2023: 4,083 apartments on sale in first lottery in 4 years for Mumbai starting at Rs 24 lakh

A MHADA official, not wishing to be named, said: "The trend in the past few years is that the majority of applications are submitted in the last two weeks of the last date. We are already having more than double the demand than the available supply, and anticipate that the applications may easily touch the 1-lakh mark."

More apartments in the pipeline

The apartments are spread over areas such as Vikhroli, Antop Hill, Goregaon, Dadar, Wadala, Andheri, Kandivali, Malad, Byculla, Tardeo, Juhu, Chembur, Powai, Chandivali, and Sion.

Also read: Why MHADA lottery 2023 in Mumbai has few options for families with annual income above Rs 9 lakh?

In the coming two years, the authority will introduce more apartments under the MIG and HIG categories. They are now under construction, MHADA officials said.

According to the list issued by MHADA, the cheapest apartment is a 204 sq ft unit for Rs 24.71 lakh in Chandivali, near the Powai area of Mumbai. The costliest apartment is a 1,500 sq ft unit in Tardeo, south Mumbai, carrying a price tag of Rs 7.57 crore.