MHADA housing lottery is considered as among the most popular schemes in Maharashtra offering affordable homes in the state. It is conducted by the MHADA board that regulates all the overall construction and development of housing units in the state.
This year there were around 41,501 applications for the 4,756 flats that are available under the MHADA lottery scheme. The apartments are available for different categories like Higher Income Group (HIG), Lower Income Group (LIG), Middle Income Group (MIG), and Economically Weaker Section (EWS).
The process to check MHADA lottery 2019 results
Applicants must follow the steps mentioned below to check MHADA housing lottery results 2019.
- Visit website
Applicants must visit the website lottery.mhada.gov.in after the announcement of lottery results.
- Check city scheme
There are different city schemes available on the website. After visiting the site, applicants have to select the city scheme as per their residence.
- Select lottery results tab
Then the applicants need to select the lottery results tab that is present among the different sections available on that web page.
- Select desired lottery among published results
The applicants will be redirected to another page after that. Applicants need to select the lottery they have applied for to see the results.
Select results according to scheme code and category
Applicants will be redirected to another page after that containing the entire lottery results. They need to select the results they need to check depending on the group and the scheme codes.
Eligibility criteria for MHADA lottery
MHADA housing lottery scheme has benefited residents of Maharashtra massively over the past few years. Also, the easy availability of home loans to fund the expenses has reduced the financial burden on home-buyers.
However, applicants must meet the following eligibility criteria to be eligible under the MHADA lottery scheme.
- Applicants must be at least 18 years old.
- Applicants must provide a domicile certificate to prove at least 15 years of residence in Maharashtra.
- Applicants must possess a PAN card.
- Applicants must have an average monthly income less than Rs. 25,000 to be eligible for the Economically Weaker Section (EWS) category.
- Applicants must have an average monthly income of Rs. 75,001 or above to be eligible to apply in the Higher Income Group (HIG) category.
- Applicants must have an average monthly income between Rs. 25,001 and Rs. 50, 000 to be eligible to apply in the Lower Income Group (LIG) category.
- Applicants must have an average monthly income between Rs. 50,001 and Rs. 75,000 to be eligible to apply in the Middle Income Group (MIG) category.
Applicants must also be aware of the factors that can affect home loan eligibility if they need to avail funds to meet the expenses to purchase the flats. Some financial institutions offer high home loan amounts to help applicants purchase their dream home.
Bajaj Finserv is one such NBFC that offers a housing loan in India of up to Rs. 3.5 Crore. Some of the other benefits they offer are-
- Flexible loan tenor up to 20 years
- Top-up loan facility
- Online loan account management
Pricing of flats
The authority governing the housing scheme has provided fixed prices for the apartments that are available under the MHADA lottery scheme.
- Price of units for Economically Weaker Section (EWS) is under Rs. 20 Lakh.
- Cost of apartments for Lower Income Group (LIG) is between Rs. 20 Lakh and Rs. 30 Lakh.
- Price of flats for Middle Income Group (MIG) is between Rs. 35 Lakh and Rs. 60 Lakh.
- Cost of units for Higher Income Group (HIG) is between Rs. 60 Lakh and Rs. 5.8 Crore.
Applicants can avail a home loan in Mumbai according to the price of the flats to help them fund the expenses. They can use an online home loan EMI calculator to determine the monthly payments against the credit.