In Brief

The revised income slabs are awaited to come into effect with the upcoming draw of around affordable homes by MHADA in the Mumbai Metropolitan Region.

 

The Maharashtra government has revised the income slabs- a criteria to adjudge who's eligible to purchase affordable homes constructed by the Maharashtra Housing and Area Development Authority( MHADA).

In an announcement issued on May 14, the Maharashtra housing department said that the yearly income slab for the economically weaker section( EWS) has been increased to Rs 6 lakh for those living in Mumbai, Pune and Nagpur Metropolitan Region, and Rs4.5 lakh for the rest of the state. previously, the earnings slab cap for the EWS order was a yearly family income up to Rs, or Rs 3 lakh a year.

For the lower-income group or LIG section, the yearly income limit was raised to Rs 9 lakh for Mumbai, Pune and Nagpur Metropolitan Region and Rs7.5 lakh elsewhere, going up from Rs 25,001 to Rs 50,000 monthly income( upper limit of Rs 6 lakh a time) for the entire state. Further, the income slab for middle- income group( MIG) families, which was Rs to Rs a month( upper limit of Rs 9 lakh annually) for the entire state has been revised to over to Rs 12 lakh statewide.

Families earning a yearly income of over Rs 12 lakh fall in the families earning an yearly income of over Rs 12 lakh fall in the high- income group( HIG) bracket, over from the Rs 9 lakh limit before. There's no upper limit set for HIG order.

The revised income slabs are expected to come into effect with the upcoming draw of around affordable homes by MHADA in the Mumbai Metropolitan Region. The last revision of income slabs was accepted in 2016 citing the need to match the income limits defined by the Union government under the Pradhan Mantri Awas Yojana( PMAY) scheme.

In addition, the carpet area for affordable homes has now been defined as up to 30 square meters for the EWS category, up to 60 sq m for the LIG category, up to 160 sq m for the MIG section and up to 200 sq m for HIG families.

Interestingly, those who fall in the EWS segment can apply for houses in all orders, if they can go the similarly advanced prices followed by LIG for MIG and MIG for HIG order apartments.

The new announcement by the Maharashtra casing department was needed by the fact that the area stipulated in each slab under PMAY was larger than under the state’s regulations indeed as average income in the state was above the public average. Economic Survey 2020- 2021 revealed that not only was the per capita income in Maharashtra advanced than the each- India figure, the gap with the public normal was wider when it came to the Mumbai Metropolitan Region.



figure