MHADA lottery 2023: BJP MLA Narayan Kuche withdraws from the $7.57 billion Mumbai apartment deal

Due to difficulty obtaining a suitable house loan, Maharashtra BJP legislator and MHADA 2023 lottery winner Narayan Kuche withdrew from purchasing a Rs 7.57 crore South Mumbai property, allowing the apartment to be given to the second person on the waiting list.

MHADA lottery 2023: Second waitlist applicant receives MHADA’s most expensive apartment.

Narayan Kuche, a Maharashtra state legislator of the Bharatiya Janata Party, decided against buying a south Mumbai apartment for Rs 7.57 crore. Kuche has already been named the winner of the most expensive apartment in the MHADA 2023 lottery. The MLA has stated that the reason for withdrawing is that he was unable to secure a large enough home loan from the banks.

“I was expecting a substantial amount for the purchase of the flat to come from the home loan from banks,” Kuche stated in a statement to Moneycontrol. However, I am unable to secure enough cash through a home loan, so I’ve made the decision to withdraw.

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“The winner must respond “yes” or “no” to MHADA based on one of two options. I responded negatively, thus MHADA can now sell the apartment to the second person on the waiting list. I have no objections”, Kuche continued.

Kuche represents Maharashtra’s Badnapur district as a BJP state legislator. Minister for the Union Bhagwat Karad had also submitted an application to buy the house, in addition to Kuche.

According to a Moneycontrol report from August 14, Kuche was included on the list of winners released by MHADA, opening the door for Mumbai’s first-time homeowners to purchase their ideal residences.

There were 4,082 units overall available for purchase in the MHADA lottery of 2023, with prices ranging from Rs 24 lakh to Rs 7.57 crore. There were more of these flats designated for the EWS and LIG categories than for the MIG and HIG categories, and fewer were designated for both.

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It is important to remember that the MHADA Act reserves 2% of the properties auctioned in the lottery for MPs and MLAs. About 80 of the 4,082 apartments up for grabs in this year’s Mumbai Board lottery were set aside for MPs, MLAs, and MLCs.

The remaining flats in the MHADA lottery for 2023 are spread out among a number of locations, including Vikhroli, Antop Hill, Goregaon, Dadar, Wadala, Andheri, Kandivali, Malad, Byculla, Tardeo, Juhu, Chembur, Powai, Chandivali, and Sion.

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Shriya Gupta

Journalist, Talks about Politics, Culture and International Affairs. Love to see things through the lenses. Short Films and Documentries make me More excited.
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