The central and state governments aimed to provide housing for all to promote various housing schemes. The aim is to make housing affordable for all. In Maharashtra, the initiative is led by CIDCO. Let’s understand what CIDCO is and how it enables affordable housing for the impoverished, followed by how home loans can help you fulfill your dreams.
City and Industrial Development Corporation of Maharashtra, also known as CIDCO, is a part of Pradhan Mantri Awas Yojana (PMAY), aiming to make housing affordable in Maharashtra for the Economically Weaker Section (EWS) and Low Income Group (LIG) people.
CIDCO Lottery (Housing Scheme)
CIDCO housing scheme is a lottery-based housing scheme. CIDCO invites applications from interested people from the EWS and LIG groups, who are residents of Maharashtra. CIDCO provides affordable residential houses in colonies and commercial complexes built with environmentally friendly techniques.
It consists of an online application process, while the government announces the date for the same in the portal itself. You can visit the website of CIDCO @https://cidco.maharashtra.gov.in/ . All necessary documents can be uploaded on the portal while preparing the application.
CIDCO Housing Scheme Eligibility Criteria
To apply for the CIDCO housing scheme, one must meet the following eligibility criteria:
- The applicant should be a resident of Maharashtra State.
- Under the EWS category, the applicant’s monthly income should be Rs. 25,000/-.
- Applying under the LIG category, the applicant’s monthly income should be between Rs. 25,000/- to Rs. 50,000/-.
Registration Fees and Cost of Houses
Applying for the CIDCO Lottery involves the following registration fees:
|Category||Registration Fees||Carpet Area||Cost of Each House|
|Economically Weaker Section||Rs. 5,000/-.||25.81 sq. m.||Rs. 18 lakhs.|
|Low Income Group||Rs. 25,000/-.||29.82 sq. m.||Rs. 25 lakhs.|
Following are essential documents required for an application under the CIDCO housing scheme:
- PAN Card.
- Aadhaar Card.
- Income Proof.
- Domicile Certificate.
- Bank Details.
- Voter ID.
Results of Lottery
You can check the lottery results online on the CIDCO Maharashtra portal. You need to log in to the portal using your ID and password, and after keying in, signing, and filling in the required details, the winning status of the applicant will be displayed on the screen.
Allotment Procedure for CIDCO Housing Scheme Winners
The winners shall complete the following procedure for home allotment under the CIDCO Lottery:
How can a Home Loan help you with your CIDCO Lottery?
If you want to apply for the CIDCO housing scheme, a home loan can help you reduce your financial burden. You can easily apply for a home loan online with affordable home loan interest rates. To pre-plan for finances, use a home loan EMI calculator. You need to enter the loan amount, home loan interest rate, and tenure to get the exact amount of home loan EMI. Fulfill your dreams of owning a house now.
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