SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

MHADA invites applications for 450 EWS flats in Nashik under 20% reservation scheme

#Builders & Projects#India#Maharashtra
Last Updated : 12th Feb, 2025
Synopsis

MHADA has opened online applications for 450 flats in Nashik under the 20% reservation scheme for economically weaker sections (EWS). These flats are spread across 15 residential projects in various parts of the city. Under state regulations, developers constructing residential projects on plots of 4,000 sq metres or more must reserve 20% of the flats for EWS housing in cities with a population exceeding 10 lakh. The flats will be allotted through a lottery system, with details of the draw to be announced soon. Interested applicants must apply online before early March, and the final list of eligible beneficiaries will be published on MHADA's portal. Since 2020, MHADA has allotted 1,328 flats across 157 projects to low-income groups in Nashik, reinforcing its commitment to providing affordable housing. This initiative aligns with broader efforts to promote social inclusion, ensuring that economically weaker sections have access to quality housing within the city.

The Maharashtra Housing and Area Development Authority (MHADA) has invited online applications for 450 flats in Nashik under the 20% reservation scheme for economically weaker sections (EWS). These flats are part of 15 residential projects spread across various locations in the city. As per state regulations, developers constructing residential projects on plots measuring 4,000 sq metres or more must allocate 20% of the total flats for EWS housing. This rule applies to cities with a population exceeding 10 lakh and is aimed at ensuring affordable housing remains accessible within urban developments rather than being restricted to peripheral areas.


A senior MHADA official stated that the flats will be allotted through a lottery draw, with the date and location of the draw to be announced soon. An advertisement has already been issued to inform prospective buyers about the application process. The residential projects offering these flats are located in Makhmalabad, Satpur, Vihitgaon, Hirawadi, Mhasrul, Wadala, Pimpalgaon Bahula, Dasak, and Deolali, all of which fall under the Nashik Municipal Corporation's jurisdiction. These areas include a mix of established and developing localities, ensuring connectivity and access to essential urban infrastructure. With Nashik witnessing rapid real estate growth, such projects play a crucial role in meeting the increasing demand for affordable housing.

People from the EWS category must apply online, with the final deadline set for early March. Once the application period closes, MHADA will verify submissions and publish the list of eligible beneficiaries on its official portal. To qualify, applicants must meet specific income criteria set by the government, ensuring that the scheme benefits those genuinely in need of affordable housing. MHADA has consistently worked towards expanding access to such housing, with a total of 1,328 flats in 157 residential projects allotted to low-income groups since 2020. Over the years, 33 large-scale residential projects covering 4,000 sq metres or more have been completed, making 1,485 flats available under the EWS scheme, out of which 1,328 have already been distributed.

This initiative aligns with Maharashtra's broader urban development and affordable housing strategies by integrating low-income housing within larger residential projects. The mandatory reservation rule ensures that economically weaker sections are not excluded from urban development and can benefit from improved infrastructure, transport facilities, and employment opportunities. The consistent allotment of EWS flats highlights the rising demand for affordable housing in Nashik, where property prices are steadily increasing due to rapid urbanisation. By incorporating EWS flats within high-end developments, the scheme also fosters social inclusion, preventing the formation of isolated low-income housing clusters.

MHADA's latest offering of 450 flats under the EWS reservation scheme is a significant step toward improving housing accessibility in Nashik. With the city's growing population and expanding real estate market, such policies play a crucial role in maintaining a balance between premium housing projects and affordable options. The transparent lottery system ensures fair allotment, while the reservation rule promotes inclusive urban planning. As Nashik continues to develop, initiatives like these will be instrumental in bridging the gap between demand and affordability, making homeownership a reality for lower-income families.

Have something to say? Post your comment