The Maharashtra Housing and Area Development Authority (MHADA) has reported impressive earnings of ₹5.68 crore prior to its much-anticipated lottery for 2,030 homes in Mumbai. The lottery is scheduled to take place on October 8, 2024.
The application process for the lottery closed on September 19, with MHADA receiving a total of 134,000 applications. Out of these, 113,577 applicants successfully made their payments, leading to significant revenue generation for the authority.
MHADA charged an application fee of ₹590 for each submission, which includes ₹90 as Goods and Services Tax (GST). This means that the total collected from the applicants who completed their payments amounts to ₹5,68,88,500, as the ₹500 application fee is non-refundable.
The lottery aims to provide affordable housing options for Mumbai residents, who are often challenged by high real estate prices in the city. The forthcoming draw is expected to attract considerable interest, as potential homeowners eagerly await the results.
As MHADA prepares for the lottery, the authority continues to emphasize its commitment to addressing the housing needs of Mumbai’s population. With the draw set for October 8, applicants are hopeful for a chance to secure a new home in one of the country’s most densely populated urban areas.
Also Read: MHADA Lottery: Over 1.34 Lakh Applications Received
