Mumbai, Oct. 13 -- The Maharashtra Housing and Area Development Authority (MHADA) will generate more than 700,000 homes in the Mumbai Metropolitan Region (MMR) over the next five years, including nearly 550,000 homes in the city, said Sanjeev Jaiswal, Vice President and Chief Executive Officer, Mhada. These homes will include affordable housing units sold via lottery, inclusive housing projects, redevelopment projects, revamps of the Prime Minister's Grant Project (PMGP) Colony, and cluster redevelopment being executed by the housing authority. "Mhada is executing multiple cluster redevelopment projects in Mumbai, including in GTB Colony in Sion, SVP Nagar in Andheri, Motilal Nagar in Goregaon and Kamathipura near Mumbai Central," Jaiswal said on Saturday during the Konkan Board's housing lottery draw event. Over 200,000 homes would be constructed in the city over the next 5-7 years under Mahada's cluster redevelopment projects, he said. According to data sourced by Hindustan Times from the housing authority, 120,864 housing units are expected to be generated via redevelopment of cessed buildings in south Mumbai under section 33(7) of the Development Control Regulations. Another 27,107 tenements will be generated from cessed buildings under section 33(9) of the DCR, while 7,769 homes will be generated from the Bhendi Bazaar redevelopment project, 19,131 from redevelopment of Kamathipura, 90,677 units from slum redevelopment projects undertaken jointly with the Slum Redevelopment Authority, and 15,805 units via reconstruction of PMGP Colony. Together, these projects will generate 539,118 homes in Mumbai, the data shows. The projects will include a rehabilitation component, a free sale component for developers and units that will be given to Mhada, to be put on the block via lottery draw. In the MMR, the housing authority will generate 180,403 units over the next five years, the data shows. On Saturday, the lottery draw for 5,354 homes and 77 plots spread across the Konkan region, excluding Mumbai, was held in Thane's Kashinath Ghanekar Auditorium. More than 13,500 homes were sold via three lottery draws held by Mhada's arm, the Konkan Housing and Area Development Board, in the past three years, said officials. Overall, in the last three years, Mhada has sold around 43,000 tenements through 18 lottery draws, officials added....