The housing agency is all set to raise figures in its income slabs; while the minimum income to apply for a 2-BHK will be doubled from Rs 40,000, all those earning below Rs 15,000 will be put in the economically weaker section
If you’ve set your sights on a spacious 2-BHK flat and are hoping to get to it through the MHADA route, there could be new hurdles along the way. The housing agency is all set to raise the figures in its income group slabs, for its next lottery. This means that you must be earning at least Rs 80,001 per month if you are to feature in the agency’s high-income group, the only section that is eligible for 2-BHK flats.
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MHADA has also announced that in Diwali this year, they will put 2,450 homes in Virar up for the lottery. Representation pic
The slabs at present include buyers with incomes ranging from Rs 8,000 to Rs 40,000. Anyone earning below Rs 8,000 per month falls under the economically weaker section (EWS). Those earning between Rs 8,001 and 20,000 are put in the Lower Income Group (LIG). Applicants earning between Rs 20,001 and Rs 40,000 per month fall in the Middle Income Group (MIG). Those who rake in more than Rs 40,000 per month are placed in the Higher Income Group (HIG).
But if MHADA has its way, the slabs will soon be revised. In the new system, those earning less than Rs 15,000 will be placed in the EWS. And the qualifying income for a slot in the HIG will then go up to Rs 80,001. Confirming the development, Satish Gawai, vice president and chief executive officer of MHADA, said, “The index will be increased. The highest index can go up to Rs 80,000. We have to make the slabs real for the public they will be made in relation to the public index.”
Gawai hopes to get the proposal passed in the next authority meeting, after which the fresh slabs will be implemented in the lottery next year. The figures in the slabs were last hiked after the 2011 lottery, and implemented in the 2012 lottery. Before that, those with a monthly income of Rs 20,001 and above were put in the HIG.
Barring those who fall under MHADA’s HIG, none can avail of the 2-BHK flats on offer. According to a senior MHADA officer, the ‘hike’ is being sought because the existing slabs are misleading. For instance, buyers earning about Rs 40,000 per month who have won flats worth Rs 50 lakh flat have later found it difficult getting loans for the same. The new slabs will be more realistic, making it easier for buyers to obtain loans for the flats that they win.
MHADA has also announced that in Diwali this year, they will put 2,450 homes in Virar up for lottery. In May 2014, they will offer about 3,000 homes in Mumbai and Virar. The prices of these promised homes are expected to be lower than this year’s eye-popping rates. u00a0
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