For every home that has been put on lottery by Maharashtra Housing and Area Development Authority's (MHADA) Mumbai board, the housing agency has received a minimum of 304 applications. A total of 217 homes have been put up in the lottery, for which the authority has received more than 66,078 applications. Housing experts say that proves that there are buyers in the market provided the rates are affordable.

Mumbai Board lottery will be held by MHADA on June 2. The date was postponed due to the model code of conduct and also because a majority of the MHADA officials were on election duty.

The lottery was announced by MHADA on March 3 and the registration process for the same started on March 7. The model code of conduct for Lok Sabha elections came into force in March. May 24 was the last date for filing the applications.

This time, MHADA has put on offer 217 homes, of which 47 homes are in the Middle Income Group (MIG) while the remaining are in the Lower Income Group (LIG). Except for the 46 homes located in Powai the rest are located in Chembur's Shell tower in Shahkar Nagar. The most expensive home in this lottery priced at Rs 56.73 lakh with a carpet area of 64.61 sqm is located in Powai. While the remaining homes are priced between Rs 31.54 lakh to 39.64 lakh.

Dr Sanjay Chaturvedi, housing expert says, that the response that MHADA has received for the homes shows that there are buyers in the market provided the rates are affordable. MHADA was also criticised for the limited number of homes it had got out in the lottery. However, experts say that MHADA shouldn't wait for the number of homes to swell. Whenever there's a stock, the authority should sell it since There are many who are forced to stay on rent and are desperately looking for a home.

"Why to keep homes for a long time, instead they should give it out to home buyers who want the homes in a city like Mumbai," said Chaturvedi.

UP FOR GRABS

• A total of 217 homes have been put up in the lottery scheduled to be held on June 2  
• MHADA has received more than 66,078 applications for the same  
• For every home put up in the lottery, MHADA has received 304 applications    
• Except for the 46 homes in Powai, the rest are located in Chembur