MHADA sets policy for sale of vacant flats

The Maharashtra Housing and Area Development Authority (MHADA), the state government's housing agency, has formulated a policy for the sale of its 11,184 unsold flats in various divisional circles. The policy was adopted on the recommendation of a committee established to review and study the issue.

Based on the new policy, MHADA vice-chairman and managing director Sanjeev Jaiswal has directed the divisional boards of the housing association to take immediate steps for the sale of vacant apartments. In accordance with the government's policy specifications, sub-administrations must submit proposals to the government to relax certain conditions for the possibility of "direct sale of apartments". and request approval.

Individuals, organizations, government, semi-government employees and MHADA employees who are interested in purchasing 100 or more apartments in bulk can get a discount on the price of apartments under this option.

With the option to sell the apartment in rental installments, an entity can be appointed under certain conditions based on agency costs through a tender or expression of interest. In this option, the agency appointed to sell the apartments will be responsible for paying all amounts due to MHADA, along with appropriate bank guarantees.