New Delhi:  The Maharashtra Housing and Area Development Authority (Mhada) lottery will be held for 1194 houses this year before Diwali. This will be an addition to 108 commercial shops which also are up for the lottery.

According to the Asian Age report, Mhada president, Uday Samant said, “The lottery will be held before Diwali. Within 10-15 days, the advertisement will be released announcing the lottery.”

Reportedly, the houses are for low-income groups and will cost between Rs 16 lakh and Rs 30 lakh. However, prices of flats to be sold for the high-income group category are yet to be decided.

In the last 39 years, since Mhada came into existence in 1977, it has constructed around 4.5 lakh units in the state. The flats that are being sold at a cheaper rate under the lottery are available in Mumbai suburbs of Borivali, Sion, Malad, Mankhurd, Chembur and Goregaon. The size of the units depends on the category under which it is available.

MHADA sells its houses under four categories: Economically weaker section (EWS), lower income group (LIG), middle-income group (MIG) and high-income group (HIG). The maximum monthly salary of a household to apply for EWS houses is Rs 25,000; for LIG it’s between Rs 25,001 to Rs 50,000; for MIG, it’s Rs 50,001 to Rs 75,000; and for HIG, it’s above Rs 75,001.

Samant added that they will be developing existing MHADA buildings.