Pradhan Mantri Awas Yojana: MHADA 1 BHK Flat RS 1150000 Lakh Virar

Under the Pradhan Mantri Awaas Yojna (PMAY), the common man will have to pay a mere Rs 11.5 lakh for a 1 BHK flat measuring 325 sq ft carpet area in Virar.

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Pradhan Mantri Awas Yojana: MHADA 1 BHK Flat RS 1150000 Lakh Virar

MHADA 1 BHK Flat RS 1150000 Lakh Virar: Under the Pradhan Mantri Awaas Yojna (PMAY), the common man will have to pay a mere Rs 11.5 lakh for a 1 BHK flat measuring 325 sq ft carpet area in Virar. Constructed by MHADA’s Konkan Board in Bolinj area, these flats are way cheaper than those being sold by developers in the open market.

As per MHADA’s estimates, the actual cost of construction of a flat with 325 sq ft carpet area currently comes up to Rs 14 lakh and above. A subsidy of Rs 2.5 lakh is available on this price, of which Rs 1 lakh is from the state government and Rs 1.5 from the Centre.

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Chief officer, Konkan Board, MHADA told, they have land in Bolinj area of Virar where MHADA has already allotted homes in the past. Under this scheme, the authority is planning to develop two 14-floor buildings on half a hectare of land, however, the number of homes hasn’t been finalised as yet.

The current rate in the area is Rs 4,600 per sq ft and above. When a private developer sells a flat with 325 sq ft carpet area, he also adds a minimum of 100 to 150 sq ft of built-up and super built-up to the flat’s total area, the cost of which is borne by the buyer. In comparison to the market rate, the authority is selling the flats at a cost that is nearly three to four lakh lower.

In Virar itself, the authority has nearly 4,000 flats that are under construction and the carpet area of most of these flats is 425 square foot. The construction cost for the bigger flats which are under construction right now goes up to Rs 20 to 22 lakh. Even on these flats, a subsidy of Rs 2.5 lakh shall be applicable.

Source Link- http://www.dnaindia.com/mumbai/report-pay-rs-115-l-and-grab-mhada-s-1bhk-in-virar-2559563

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