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.
