The Maharashtra government has revised its regulations to change the allowed carpet area of apartments that can be constructed & sold under the High-Income Group (HIG) & (MIG) Middle-Income Group through a lottery system run by the state government’s nodal authority and statutory housing authority, Maharashtra Housing & Area Development.
According to the rules, apartments in the MIG category can now be configured in any way that is larger than 968 square feet, compared to the HIG category’s previous maximum of 1,722 square feet. The carpet area has also increased from the prior cap of 2,152 square feet to any configuration larger than 968 square feet.
Also excluded from applying for HIG segment flats are the (EWS) Economically Weaker Section & (LIG) Low Income Group. Before, applicants from these groups could submit applications for all apartments, regardless of category.
However, considering their economy, income levels, and restricted loan eligibility for a larger apartment, the government decided to enable applicants from each class to apply in their respective section or simply one category higher than that in order to eliminate the prospect of no sale of flats despite obtaining the allotted through a lottery.
According to the new regulations, EWS candidates are eligible to apply for flats in both the EWS & LIG segments, while LIG applicants are eligible to register for apartments in both their classification and MIG. In the same way, MIG and HIG flats are open to potential homebuyers. However, the Government Resolution (GR) stated that HIG homebuyers could only apply in their category.
An individual with an annual income between Rs 6 lakh and Rs 9 lakh falls within the EWS and LIG category in areas like MMR (Mumbai Metropolitian Region), PMRDA (Pune Metropolitian Region Development Authority), and Nagpur, in addition to other cities with a population of above 10 lakhs.
Any candidate whose annual income is higher than Rs. 12 lakhs is considered to be a member of the high-income group (HIG).
The updated regulations will be constructed using a number of MHADA programmes and on land parcels that have been assigned by the construction authority.
