MHADA: Lottery scheme in Maharashtra explained

The Maharashtra Housing and Area Development Authority, also known as MHADA, provides schemes giving residents of Maharashtra access to affordable residential property. Mumbai’s MHADA scheme offers over 1,300 low-cost houses via a lottery system. The winning 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), 201 to middle-income group (MIG) and 194 units to high-income group (HIG) applicants.

Now that you’ve got a basic understanding of the scheme, have 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’s you must meet to be eligible for the Maharashtra lottery scheme.

• You must be over the age of 18 years
• You must have a domicile certificate that proves you’re a resident of Maharashtra
• You must have a PAN card
• You must be a salaried professional

Note that you can’t apply on behalf of your children or if you’re already a beneficiary of another MHADA lottery scheme.

Moreover, you can apply for a home loan 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

Documentation required

Here are the documents you will need to provide when applying for the MHADA housing scheme to prove your eligibility.

• 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 in charge of the scheme has set fixed prices for the units available under the MHADA lottery housing scheme. They are as follows.

• Units available to EWS applicants are priced under Rs. 20 lakh
• Units for LIG applicants retail between Rs. 20 lakh and Rs. 30 lakh
• Units earmarked for MIG applicants cost between Rs. 35 lakh and Rs. 60 lakh
• Units for sale to HIG applicants will set you back by Rs. 60 lakh and Rs. 5.8 crore

MHADA application process

Now that you are familiar with the nitty-gritty of the scheme, let’s walk you through the easy application process.

• Log on to MHADA’s official website and register by creating an account
• Then click here to apply for the MHADA Pune scheme or the 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 compared to 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 most of these units are earmarked for the Pradhan Mantri Awas Yojana (PMAY), and there aren’t enough applicants available. Thus, it’s 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. Bajaj Housing Finance Limited Home Loan is one option that facilitates application via PMAY.

Through BHFL Home Loan, you can get up to Rs. 3.5 crore as a sanction to 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 personalised offering that suits your financial profile.