Exciting News for Thanekars: Own an MHADA Home in Thane for Less Than ₹20 Lakhs

Introduction: 
 

Affordable Housing Now Within Reach for Thanekars

In an exciting turn of events, the Maharashtra Housing and Area Development Authority (MHADA) has slashed the prices of its affordable housing units in Thane, making them more accessible than ever before. With a focus on providing affordable homes for the residents of Thane, this initiative aims to make homeownership possible for those who have long struggled with the rising property prices in the city’s suburban areas.

This move comes as a relief to Thanekars, who have witnessed steep increases in property prices over the years. With MHADA’s new pricing structure, buying a home in Thane is no longer a distant dream for many. The new prices, under ₹20 lakhs, will provide an incredible opportunity for first-time homebuyers, especially those belonging to the Economically Weaker Section (EWS), Lower Income Group (LIG), and other deserving categories.

 

MHADA’s Initiative: Slashing Prices for Better Accessibility
 

In a significant move to make homeownership more attainable, MHADA has reduced the prices of housing units in Thane, specifically in Shirgaon and Khoni, by over ₹1 lakh per unit. Initially priced above ₹20 lakh, these flats are now available at more affordable rates, bringing homeownership within reach for many families.

For example, in Shirgaon, 5,236 units that were originally priced at ₹20,72,146 are now available for ₹19,28,742, reflecting a price reduction of ₹1.43 lakh. Similarly, in Khoni, 1,012 flats that were priced at ₹20,13,500 have been reduced to ₹19,11,700, offering a savings of ₹1.01 lakh per home.

This price cut will benefit thousands of potential homeowners in Thane, making it easier for families, especially those in need, to secure affordable housing. These flats will be sold on a First-Come-First-Served (FCFS) basis, ensuring that interested buyers can act quickly before the units are sold out.
 

How Does This Benefit the Community?

MHADA’s price reduction is a key part of the government's push towards affordable housing for all, particularly for the economically disadvantaged sections of society. The new prices make these homes affordable to a wide range of people, especially those in the EWS and LIG categories.

Eligible buyers can now purchase homes that offer better living standards, with improved infrastructure, better facilities, and more space than what they were previously able to afford. These homes come with the promise of a future-oriented investment for families, offering them a secure place to live while also contributing to the city’s urban development.
 

Eligibility Criteria for Affordable Housing

To be eligible for the MHADA flats in Thane, applicants must meet specific income criteria. The scheme is aimed at EWS, LIG, and MIG categories, with varying income requirements for each:
Economically Weaker Section (EWS): Families earning up to ₹6 lakh annually.

• Lower Income Group (LIG): Families with an income between ₹6 lakh and ₹9 lakh annually.
• Middle Income Group (MIG): Families with an income between ₹9 lakh and ₹12 lakh annually.
• Higher Income Group (HIG): Applicants earning more than ₹12 lakh per year.

The First-Come-First-Served (FCFS) Scheme

The homes are available on a First-Come-First-Served basis, which means that once the flats are listed for sale, prospective buyers can apply to secure their homes. This approach streamlines the purchasing process, ensuring that homes are sold directly to the applicants, without delays, and at transparent rates.
This model encourages faster allocation and makes the home-buying process more efficient, helping reduce the long waiting periods that are typical with other housing schemes.
 

No Deadline for Purchasing: 
 

Sales Continue Until All Units Are Sold

 

In a bid to ensure that all eligible families have a chance to apply, MHADA has confirmed that there will be no deadline for purchasing the flats. Sales will continue until all the units are sold, giving prospective buyers ample time to consider their options and apply for the flats under the scheme.

This open-ended approach ensures that no eligible family is left behind due to time constraints, providing a fair opportunity to secure a home in Thane at affordable prices.
 

What’s Next for MHADA and Thane Residents?

MHADA has ambitious plans for further development in the area. In addition to these flats, the authority is planning a draw around Diwali 2025 for about 5,000 more affordable homes. This draw is expected to offer around 5,200 flats, bringing hope to more than 5,000 families who are looking to own a home in Thane.
In 2024, more than 2,000 affordable homes were made available for sale, with prices ranging from ₹29 lakh to ₹6.82 crore. This is indicative of the growing efforts by the government to bring more affordable housing into the city’s sprawling suburbs.
 

Conclusion: A Brighter Future for Thane’s Homebuyers
 

MHADA’s recent price reduction and continued commitment to affordable housing represent a huge leap forward for the residents of Thane. By offering flats under ₹20 lakh, MHADA is bringing homeownership within reach for more families, particularly those in need of support. This initiative is part of a broader vision to make affordable housing available to every section of society, contributing to a more equitable and inclusive Mumbai.
As the city’s housing needs continue to grow, MHADA’s efforts to meet these demands will play an important role in shaping the urban landscape of Thane and Mumbai at large. This is a significant milestone in the government’s ongoing mission of “Housing for All,” and it is expected to set a precedent for similar initiatives across the country.