The Konkan Board of Maharashtra Housing and Area Development Authority (MHADA) has decreased the prices of 6,248 vacant flats in Shirdhon in Raigad district and Khoni in Thane district as the lottery received few applications. The reason for the low applications is the lack of basic amenities.
The price of these flats was cut down by Rs 1,43,404 in Shirdhon and Rs 1,01,800 in Khoni. The new prices of these flats now stand at Rs 19,28,742 and Rs 19,11,700. MHADA is also developing amenities such as a multi-purpose hall, a gym, and supermarkets for daily needs products in the area. The authority is also planning to build schools and hospitals within the project, which can help to attract buyers.
The deadline to apply for the MHADA Konkan Lottery was extended to December 20, 2024. On June 21, 2025, only 4,200 tenements were sold. According to the Mid-Day report, MHADA’s Konkan Board Chief Officer Revati Gaikar said a housing scheme has been launched under the Pradhan Mantri Awas Yojana (PMAY) scheme.
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The Konkan MHADA lottery applicants under PMAY are unskilled labourers and daily wage workers. This makes it difficult for them to get home loans. Private and nationalised banks generally avoid sanctioning a home loan when applications are received from low-income groups.
A person with an annual family income of a maximum of Rs 6 lakh is seen as a high-risk applicant, and thus, most banks prefer not to sanction their housing loans to them.