MHADA sets policy for sale of vacant flats

The Maharashtra Housing and Area Development Authority (MHADA), state government's housing body, has set a policy for the sale of its unsold 11,184 apartments across various divisional circles. The policy has been set following the recommendation of a committee that was constituted to review and study the issue. Basis the new policy, MHADA?s Vice Chairman & Chief Executive Officer Sanjeev Jaiswal has directed the divisional boards of the housing body to take immediate action for the sale of vacant flats. As per the policy specifications laid down by the authority, the divisional boards are directed to submit proposals to the government for relaxation of certain conditions for the option of ?direct sale of apartments? and seek approval. Individuals, organisations, government, semi-government employees, MHADA employees who are interested in buying 100 or more flats in bulk can be offered a discount on the price of the flats under this option. Under the option of flat sale by rent instalments, an entity can be appointed on certain terms and conditions basis of agency fee through tender or expression of interest. In this option, the agency appointed to sell the flats will be responsible for paying all the amounts due to MHADA, along with suitable bank guarantees.