MUMBAI: Winners of the Maharashtra Housing and Area Development Authority (Mhada) houses will no longer have to scout for banks and financial institutions for home loans, as the housing body has decided to tie up with banks.
Mhada has started a feasibility study and will hold talks with nationalised banks soon. “Most of the winners find the loan procedure cumbersome. The partnership will make things easier,” said a senior Mhada official.
More than 3,383 winners from the last four lotteries are yet to get possession of their apartments. Many face hurdles in dealing with banks to get loans and so have to depend on agents. “The process of getting a loan was too tough to handle,” said a winner of a house at Sindhadurga in Konkan.
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