What are the rules to rent out a Mhada flat for more than 5 years?

State housing agency MHADA has done away with its rule that a person who has been allotted a house cannot rent it for five years. However, the ban on the sale of a flat for the same period remains.

Can we rent cidco lottery flat?

Earlier, there was a restriction on lottery winners from giving their flats on rent for five years after getting possession, but as per the MHADA resolution passed in a meeting on August 6, 2013, the owner can rent a flat without any restriction on period.

How do I get a mhada resale flat?

Check the balance on electricity and water meters. Now make a sale agreement in your name and pay the stamp duty and registration charges. After registration, send the registered sale agreement copy to MHADA office along with a transfer fee of Rs. 35000 to get the transfer certificate.

When can we sell mhada flat?

five years
Those who own flats MHADA flats are allowed to sell their units only after five years from the date of purchase. However, one needs to be cautious if one is buying a flat in resale. This is because usually sellers offer power of attorney of the property and not the registered deed to sell it during the lock-in period.

Can I give mhada flat on rent?

Depending on whether the flat owner belongs to the economically weaker section or higher income group, Mhada will levy payment ranging from Rs 2,000 to Rs 5,000 for giving its no-objection certificate to rent out the premises for 11 months. With restrictions lifted, there will be no question of illegal renting.”

Can we put mhada flat on rent?

Move will curb unofficial renting of houses and help govt increase revenue. The Maharashtra Housing and Area Development Authority (Mhada) has decided to allow the owners of vacant Mhada houses to officially rent them out.

When can I sell cidco lottery flat?

The state government is planning to legalise the transfer of flats allotted in CIDCO projects in Navi Mumbai. At present, the beneficiaries who are allotted CIDCO flats, cannot sell it for at least five years.

Why are there mhada flats?

MHADA has the prime responsibility of constructing and developing residential units at affordable costs. Under this lottery system, one can buy properties in the most sought-after residential areas of Mumbai at a much lower cost than the private builders offer.