MHADA Lottery: Know about MHADA Lottery Scheme in Maharashtra

Highlights
The MHADA housing scheme provides affordable homes
The scheme caters to various income groups
Only residents of Maharashtra are eligible for the scheme
You can use PMAY subsidies to purchase a MHADA home

The Maharashtra Housing and Area Development Authority, also known as MHADA, has schemes that give the residents of Maharashtra access to affordable residential property. The MHADA Mumbai scheme offers over 1,300 low-cost houses via a lottery system and the applicants are segregated based on their income. The cost of these houses or flats ranges from Rs.14.6 lakh to Rs.5.8 crore and varies depending on the income group. As per the authorities, in 2019 63 flats were to be allotted to the economically weaker section (EWS), 126 to low-income group (LIG) applicants, 201 to middle-income group (MIG) applicants and 194 units to high-income group (HIG) applicants.

Now that you’ve got a basic understanding of what the scheme is about, take a look at the information you should be aware of before you apply for the MHADA lottery scheme

Eligibility Criteria for Maharashtra Lottery Scheme

Listed below are the criteria you must meet in order to be eligible for the Maharashtra lottery scheme

You must be over the age of 18 years
You must have a domicile certificate that shows you to be a resident of Maharashtra
You must have a PAN card
You must be salaried

Note that you can’t apply on behalf of your minor children and you also can’t apply if you’re a beneficiary of any other MHADA lottery scheme

Moreover, you can apply for a home based on your monthly income. Take a look at the eligibility criteria with regards to this.

If your monthly income is between Rs.25,001 and Rs.50,000, you can apply for LIG flats
If your monthly income is between Rs.50,001 and Rs.75,000, you can apply for MIG flats
If your monthly income is over Rs.75,000, you can apply for HIG flats

Why should you choose Bajaj Housing Finance Ltd. as your lender

Documentation Required

In order to prove your eligibility, here are the documents you will need to provide when you apply for the MHADA housing scheme.

Aadhaar card
PAN card
Domicile certificate
Passport
Voter’s ID
Birth certificate
Driver’s license
School leaving certificate

Pricing of Houses under the MHADA Scheme

The authority governing the scheme has set fixed prices for the units available under the MHADA lottery housing scheme. These are as follows.

Units available to EWS applicants are priced under Rs.20 lakh
Units for LIG applicants are priced between Rs.20 lakh and Rs.30 lakh
Units earmarked for MIG applicants are priced between Rs.35 lakh and Rs.60 lakh
Units for sale to HIG applicants are priced between Rs.60 lakh and Rs.5.8 crore

MHADA Application Process

Now that you are familiar with all the particulars of the scheme, here is the easy application process you need to follow.

Log on to MHADA’s official website and register by creating an account
Then, visit https://lottery.mhada.gov.in/OnlineApplication/Pune/ if you wish to apply for the MHADA Pune scheme or https://lottery.mhada.gov.in/OnlineApplication/Mumbai if you are applying for MHADA Mumbai scheme.
Fill out the MHADA online form for the city of your choice with basic information
As per your income group, select the lottery and scheme you wish to participate in
Print your application acknowledgement for future reference
Use any of the available online payment methods to make your payment and complete the process

Housing schemes are a great way to reduce the cost of becoming a homeowner. Moreover, these units are newly developed and hence may offer better amenities than other apartments. However, a 2018 report highlighted that of the 9,000 houses listed under the MHADA lottery scheme, over 10% were lying vacant. This is because many of these units are earmarked for the Pradhan Mantri Awas Yojana (PMAY) and there aren’t enough applicants availing them. This is why it is a good idea to consider applying through PMAY so that you can enjoy a hefty interest subsidy to the tune of Rs.2.67 lakh. The Bajaj Housing Finance Limited Home Loan is one option that facilitates application via PMAY.

Through the BHFL Home Loan, you can get up to Rs.3.5 crore as a sanction to either buy, build or renovate your home. Additionally, you benefit from a nominal interest rate and a flexible tenor of up to 240 months. You can also expedite the application process by applying online. But first, check your pre-approved offer as you can apply using a customized offering that suits your financial profile.