3 weeks ago

MHADA Rental Portal in 3 Months; Over 500 Flats on Rent

MHADA Rental Portal in 3 Months; Over 500 Flats on Rent
Mumbai Real Estate: MHADA Rental Portal Likely Within 3 Months; Over 500 Unsold Lottery Flats To Be Offered On Rent Across MMR · freepressjournal.in

The government is making it easier to find rental homes in Mumbai.

A housing agency called MHADA is building a special website for rentals that should be ready in two or three months.

Right now, people often have to visit many places and talk to agents to find a home.

The new website will show available homes, their rent, and other details in one place.

MHADA also wants to rent out more than 500 empty flats that were not sold in its housing lotteries.

Under the plan, 30 to 40 out of every 100 homes in new housing projects could be set aside for renting.

Small homes up to 400 square feet would cost no more than 15,000 rupees each month.

These rental homes would be built close to train and Metro stations, about 15 minutes away.

Builders who help build rental homes could get big discounts on taxes and fees.

This should help people who move to Mumbai for work or school find a place to live.

Key facts

Authority
Maharashtra Housing and Area Development Authority (MHADA)
Portal launch timeline
Within 2-3 months
Unsold flats for rent
More than 500
Proposed rental quota in MMR projects
30-40%
Proposed monthly rent ceiling
Rs 15,000 for units up to 400 sq ft
Location target
Within about 15 minutes of railway and Metro stations
Developer concessions
Up to 50% on GST, stamp duty, registration fees, taxes and development charges
Coverage area
Mumbai and the Mumbai Metropolitan Region (MMR)

Sources

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