housing slump, eh?

MHADA is maharastra govt's housing development organisation.
they create low, middle and high income group (LIG, MIG and HIG) flats.

they are currently running a scheme to sell 3863 flats at diverse locations in mumbai.
in 2 days they sold around 2 lakh application forms.
and there are reports that app forms sales are likely to triple in the coming weeks.

earlier in june 2008, we reported a similar rush to affordable housing through MHADA.

and these are not that cheap really.
at their versova cluster, they are selling 900 sq ft apartments at around Rs 55 lakhs, which works out to Rs 6000/sq ft.
this is around half of free market rates.

time to exit bombay....again!!