Things To Know About MHADA Lottery?
MHADA or the Maharashtra Housing and Area Development Authority is the new scheme that encourages ‘housing for all’ and develops houses for the economically weaker and the middle-income group. This scheme has been developed by the government of Maharashtra in order to help everyone live on their own house in an affordable way. This scheme is a part of the PMAY.
Know Your Eligibility
For the MHADA lottery scheme, you should be either a middle-income individual o you should be in the lower income groups. If your annual income is 6 to 9 lakh, then you fall in the middle-income group. The economically weaker section people are those who have an annual income of 3 lakhs. Make sure you learn about your category depending upon the income scale before applying for this scheme.
How To Apply
For this MHADA lottery scheme, you need to have Aadhaar card, PAN card, cancelled cheque or passbook, phone number and your email ID.
At first, you need to login to the official website of the MHADA and then you need to select your city. You must create your username and then select the lottery scheme. Always take a printout of the application and make payment online.
You can get funding options from various lenders after you get approval for your house. You need to bear the cost of stamp duty and other costs for the legal works. And you get your access to purchase an affordable house with the help of this lottery scheme. Just find the right lender that could be a bank or an NBFC such as Bajaj Finserv to aid you with the loan amount.