There were mutliple questions from homebuyers applying for MHADA lottery and one amongst them was when does MHADA return the EMD to non winners.

There are 4082 homes that MHADA has put up in the lottery, which means there will be 4082 winners, already more than 37,000 applications have been receivecd for these homes.

With every application that one makes to MHADA there is an earnest money deposit (EMD) that one has to pay for entering the lottery.

For every home there are many people waiting to get the home. But what happens to those, who apply, pay the EMD but then don’t win the homes?

Ofcourse MHADA ins’t going to keep the money with it, it has to be given back to the applicant. So a refund process is initated by MHADA for the refund.

Rajendra Gaikwad, Dy Chief Officer, Marketing, said, “The refund will be processed for non winners, within 48 hours of the lottery.”

So which means, the money which one paid to MHADA as an EMD will be refunded to them, within 48 hours without any interest.

Which in itself is a big deal, because, knowing how government offices work, refunding someone the money within 48 hours is no mean feat.

Hope this answes the question to everyone who wants to apply for MHADA lottery and is scared that if they don’t win their money will be stuck with MHADA for long.

The applicant need not worry as MHADA won’t keep the money with it for long and will be refund the within 48 hours. So while keying in your details put the correct bank account in the lottery system.

Also Read:This is how MHADA decides Wait List for lottery

You May Also Like

Developer Of Building That Collapsed Partially Was Issued Show Cause Notice

Developer of the building that collapsed partially in Mumbai was issued a…

Arbour Investments Partners with Justo Realfintech in $7 Million Deal

Arbour Investments has invested $7 million in Justo Realfintech, acquiring a significant stake to expand its presence in the mid-market real estate segment. The deal includes $5 million in equity and $2 million in debt, boosting Arbour’s service offerings and providing Justo with financial and strategic support for accelerated growth.

Industrial & Warehousing demand consolidates in 2023, at about 25 mn sq ft

·       Pune and Mumbai drove 2023 demand contributing around half of the leasing…

314 Housing Projects in Maharashtra Facing Insolvency

A total of 314 housing projects in Maharashtra are undergoing insolvency proceedings, prompting MahaRERA to release a public list to safeguard homebuyers. The ongoing, lapsed, and completed projects have significant investments at stake, highlighting the need for transparency and informed decision-making in the real estate sector.