MHADA Reduces Monthly Lease Rent for 196 Penkarwada Flat Holders

The Maharashtra Housing and Area Development Authority (MHADA) has reduced the monthly lease rent for 196 Middle Income Group (MIG) flat holders in its Mouje Penkarwada housing project near Mira Road in Thane district. Under the decision approved by MHADA Vice President and Chief Executive Officer IAS Sanjeev Jaiswal, the monthly lease rent has been lowered from Rs 2,657 to Rs 298 per flat, effective October 1, 2026. The decision provides financial relief to residents of the project, which falls under the Mira-Bhayandar Municipal Corporation area.

The housing project offered 196 MIG flats and two amenity flats through a lottery conducted in 2021. After the buildings received their Occupation Certificate in December 2023, the homes were allotted to successful applicants.

Initially, the monthly lease rent was set at Rs 2,657 per flat under MHADA Authority Resolution No. 3094, based on the expected costs of land-related and development work. Residents later requested a review of the amount, seeking a lower monthly payment.

Following discussions between Konkan Housing and Area Development Board Chief Officer Dr. Vishal Rathod and the residents, the board submitted a proposal to senior officials for reconsideration of the lease rent.

After reviewing the request, MHADA approved the revised rate under Authority Resolution No. 6995. The new monthly lease rent of Rs 298 will help reduce the ongoing financial burden on the 196 flat holders and provide continued relief to families living in the Penkarwada housing project.