Bharatiya Janata Party (BJP) Maharashtra MLA Narayan Kuche has backed out from purchasing a Rs 7.57 crore apartment in south Mumbai. Earlier, Kuche had been declared the winner of the apartment, which was the costliest in the MHADA 2023 lottery. The MLA has cited an inability to get a large enough home loan from banks as the reason for backing out.
Speaking to Moneycontrol, Kuche said, "I was expecting a substantial amount for the purchase of the flat to come from the home loan from banks. However, I am not getting sufficient funding via a home loan and hence have decided to back out."
"There are two options on winning and the winner has to reply 'yes' or 'no' to MHADA. I have communicated in the negative and now MHADA can sell the flat to the second winner in the waiting list. I do not have any objection," Kuche added.
Kuche is a BJP MLA from Badnapur constituency in Maharashtra. Apart from Kuche, Union minister Bhagwat Karad had also applied for the purchase of the home.
Moneycontrol had reported on August 14 that MHADA had announced the list of all the winners, including Kuche, paving the way for first-time homebuyers to own their dream homes in Mumbai.
In May 2023, MHADA had put 4,082 mostly affordable homes priced between Rs 24 lakh and Rs 7.57 crore up for sale. The apartment won by Kuche is in Tardeo, South Mumbai, and has an area of over 1,500 square feet. It is in the High-Income Group (HIG) category.
About 93 percent of the homes put on sale in the Mumbai real estate market by MHADA were for the Economically Weaker Section (EWS) and the Lower Income Group (LIG), with the rest earmarked for the Middle Income (MIG) and High-Income Group (HIG).
Of the 4,082 apartments, over 2,700 are meant for the EWS category, and over 1,000 for the LIG segment, while 130 have been set aside for the MIG and around 120 for the HIG category.
Can MPs/MLAs apply for MHADA lottery homes?
As per the MHADA Act, 2 percent of the total homes sold in a lottery by the authority are reserved for MPs and MLAs. Of the total of 4,082 apartments up for sale, about 80 were reserved for MPs/MLAs/MLCs in this year's Mumbai Board lottery, according to MHADA.
Where are the other apartments?
The other apartments in the 2023 MHADA lottery are spread across localities such as Vikhroli, Antop Hill, Goregaon, Dadar, Wadala, Andheri, Kandivali, Malad, Byculla, Tardeo, Juhu, Chembur, Powai, Chandivali and Sion.
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