New Scheme of Mhada, Pay on possession

By Accommodation Times News Service

There is good news for the prospective buyers of Mhada flats as the authority has relaxed the payment rules. From now onwards the lottery winners of the 1,259 flats that is to be auctioned by Mhada on may 31st. do not have to pay the total cost till the housing body gives the buyer possession of the flat.

Mr . Niranjan Sudhanshu, the Chief Officer said, the decision was taken so as to not burden buyers with paying their EMI’s before possession. We will ask for the total flat cost after issuing them allotment letters upon getting an occupation certificate from the civic body.  The following decision has been taken after the several complaints of delaying the flats, it was observed that Mhada used to take the entire flat cost in two or three installments for under –construction and used to not give the possession on the stipulated date.

Mhada from two years before have started the lottery system on the income bases, building many houses for economically backward sections and low income housing group.

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