Saturday, April 27, 2013

MHADA has assigned FLATS to wrong income group in Adv. April 27 2013

  My comments on MHADA advertisement

  There is major problems and errors while defining income groups and assigning flats to these groups.


MIG (Middle Income Group) - 20001-40000/-

Flats available for MIG groups:
16. Vinoba Bhave Nagar Kurla: Total Cost : 43Lacks
20. Charkop Kandivali - Total Cost: 53L
21, 22, 23, 24 - All above 40L

Now, it will be big mistake to think that person earning between 20-40K monthly can buy Flats costing above 40L.

Lets take for example if person earning 40K monthly. Maximum loan eligibility for this person is around 18Lacks rupees.

It means he should have around 26L in hand cash to buy this flat.
If MHADA is expecting this from common man. I think they can find only handful person with this economic condition.

Before mapping any FLAT to any particular income group MHADA should think for what is max purchase capability of this income group. 

After the advertisement i can confidently say, this adv. is not for common man. There is basic problem is assigning flats to proper income group.