MHADA lottery winners eligibility to be thoroughly examined

The 3849 lucky winners of Maharashtra Housing and Area Development Authority (MHADA) lottery houses will now have to wait for the eligibility test to make sure their dreams of having an affordable home in the city come true. The banks would now be sending letters to the winners and the winners would have to submit the required documents between July 15 and July 30.

"As soon as the winners submit the documents to the bank, the bank would submit the same to MHADA and we will scrutinize it further and the final list would be returned to the bank," said Amarjit Manhas, chairman, Mumbai board, MHADA. Once the eligibility is proved the winners of the readymade flats would have to deposit pay the entire amount in 90 days.

The time period would be extended by another 45 days, however after that the application would be disqualified if he is not able to pay. While for the people who have won under construction houses, the payment would be done in installments.

The applicant would have to pay 10 per cent of the total amount after winning the flat, pay 40 per cent after the concrete construction of the home is ready, pay 25 per cent after the entire project is complete and pay 25 per cent final installment while taking the possession.

While for the losers the Earnest Money Deposit (EMD) would be returned within a week by the electronic clearance system. The bank will have to take the permission from the Reserve Bank of India and then they will return the amount.