MHADA Konkan’s Balkum Housing Scheme units cost increased by 40%

August 2,2023: MHADA Konkan Board has applied for Occupation Certificate (OC) for the 197 flats of the Balkum Housing Scheme lottery with the Thane Municipal Corporation (TMC). The OC is expected in a few days after applicants who make the full payment will be given possession of the flat. While the project was ready in 2018, possession couldn’t be given as the TMC had not given OC on reasons of no proper parking provisions.

October 2022: MHADA Konkan board has increased the cost of the ready houses in Balkum, Thane that was part of the MHADA lottery 2018 by upto Rs 16 lakh for the lottery winners.

Reports suggest that there has been an increase of around 40% in the prices of the apartments. While in 2018, an apartment of around 721.83 sq ft was Rs 43,45,236, now it is around Rs 59, 74,800.

Addressing this, Konkan MHADA has now offered the beneficiaries a scheme in which they can make payments of the houses in 3 stages. According to the scheme, the first stage payment will include 25% of the total amount and has to be made October 21,2022. In the second stage, 50% of the amount has to be paid by January 31,2023 and the outstanding 25% in stage 3 has to be paid within 30 days of getting the possession letter.

MHADA’s website also mentions that these 197 beneficiaries of the Balkum housing scheme are provided with 90% loan NOC facility from any financial banking institute.

The Balkum housing scheme had 197 houses. As part of the MHADA lottery 2018, along with the 125 lottery winners, 69 special scheme beneficiaries were also added.

Providing clarification, MHADA mentioned that an increase in metro cess, parking, load of water duct etc. the cost of the flats have gone up. According to Navbharat, Konkan MHADA has spent around Rs 32,10, 24,397 towards water, metro cess and parking in the Balkum housing project. Parking for the project itself costed close to Rs 19,41, 54,775. MHADA also in its advertisement mentioned that the parking cost in this scheme would be borne by the beneficiaries.

Owing to this the beneficiaries have met the MHADA officials and also have asked for the CM intervention.

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Anuradha Ramamirtham

With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]

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