"We expect to open draws by the end of May. We recommended to the state housing authorities that if allotments are delayed, all depositors must be given interest at bank rates.
HDFC will do the securitisation of applications and other documents and submit us the computerised data before the end of May.
The board will open the draw on May 31."
-- said Amarjeet Singh Manhas, chairman, Mhada's Mumbai board.
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