• MHADA Lottery Scheme in Maharashtra

    Residents of Maharashtra can buy residential properties at affordable prices thanks to the Maharashtra Housing and Area Development Authority’s schemes. This is a scheme that is based on a lottery system based on the level of income. More than 1.3 lakh apartments will be offered through the lottery scheme at prices that range from Rs.14.6 lakh to Rs.5.8 crore. The scheme caters to various income groups such as the Low Income Group (LIG), Middle Income Group (MIG), High Income Group (HIG), and Economically Weaker Sections (EWS).

    Prices of MHADA lottery scheme residential units

    There are fixed prices for all the residential units that are available under the MHADA lottery scheme that are categorised according to the various income groups. These prices are as given below:

    • For LIG applicants: Between Rs.20 lakh and Rs.30 lakh
    • For MIG applicants: Between Rs.35 lakh and Rs.60 lakh
    • For HIG applicants: Between Rs.60 lakh and Rs.5.8 crore
    • For EWS applicants: Up to Rs.20 lakh

    Check Out: How to Get Home via PMAYU

    Eligibility criteria for the MHADA lottery scheme

    There are several parameters that have to be met in order to be eligible for the MHADA lottery scheme. These parameters are as given below:

    • Domicile certificate showing that you are a resident of Maharashtra
    • Age above 18 years
    • Salaried individuals
    • Possession of a PAN card

    Check your home loan eligibility

    Factors that excl

    Minors cannot be applicants of the scheme.

    Beneficiaries of any other MHADA lottery scheme are not eligible

    MHADA Lottery Scheme Income Eligibility Criteria

    There are fixed income criteria for each group to be eligible for the lottery scheme. These are as given below:

    For LIG flats: Monthly income ranging from Rs.25,001 to Rs.50,000

    For MIG flats: Monthly income ranging from Rs.50,001 to Rs.75,000

    For HIG flats: Monthly income exceeding Rs.75,000

    Documentation Required for MHADA lottery scheme

    To apply for the lottery scheme, you will have to submit some of the following documents:

    • PAN card
    • Domicile certificate
    • Birth certificate
    • Aadhaar card
    • Passport
    • Voter’s ID
    • School leaving certificate
    • Driver’s license

    Find: Documents Required for Home Loan

    Application process for MHADA scheme

    The application process for the MHADA lottery scheme is as given below:

    1. Visit the MHADA official website
    2. Register your account and log into it
    3. Select the location where you want to apply in the relevant link: Mumbai or Pune
    4. Fill up the required information on the online application form that is relevant to your choice of location
    5. Select the scheme and lottery you will be participating in based on your income level
    6. Print out or download the acknowledgement of your application for any future reference
    7. Make the required payment using any of the online payment modes that are available on the site

    Guide:Step by Step Procedure for Home Loan Application

    PMAY and MHADA scheme

    A specific percentage of MHADA residential units are earmarked for the Pradhan Mantri Awas Yojana (PMAY) scheme. Under the PMAY scheme, you can avail an interest subsidy of up to Rs.2.67 lakh, which is dependent on your income category. Applying through PMAY for the MHADA scheme will ensure that you not only get the interest subsidy but may also increase your chances of winning the lottery because of the limited number of people who apply for the scheme through PMAY, thus making more units under the PMAY scheme vacant in the MHADA projects. By applying under PMAY, you will be able to save even more.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.