October 16, 2025: The Brihanmumbai Municipal Corporation (BMC) is set to hold a housing lottery to sell 426 flats in Mumbai, marking the first time the civic body has undertaken such a move. The sale aims to generate additional revenue ahead of the upcoming civic elections, expected early next year, with BMC projecting earnings of Rs 305 crore from the initiative.
The decision comes as BMC’s overall fixed deposits have decreased from Rs 91,690 crore in 2021-22 to Rs 79,498 crore in 2024-25, reflecting increased capital expenditure on various infrastructure projects.
A senior BMC official clarified, “We (BMC) have taken up several infrastructure projects due to which the capital expenditure of our overall civic budget has gone up, and we are exploring several ways to generate additional means of revenue. Recently, we had leased out our land to private builders to generate revenue. This move is also meant for the same objective, and it was in the pipeline for nearly a year, and it has nothing to do with the upcoming civic elections since the dates of polling are yet to be decided.”
The lottery will provide an opportunity for lower-income groups to access housing while helping BMC strengthen its financial position amid rising urban infrastructure demands.
Source: The Indian Express
