MHADA to Reduce Prices of Unsold Mumbai Flats by 10-20%
MHADA may cut prices of 50+ unsold Mumbai flats under the First Come, First Served scheme by up to 20%
Hindustan Times
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The Maharashtra Housing and Area Development Authority (MHADA) plans to cut prices of over 50 unsold apartments in Mumbai by 10-20% under its First Come, First Served scheme. This move aims to boost sales after only 64 of the 118 units offered were sold since their launch in February 2026.
- 01MHADA plans to reduce prices of unsold apartments by 10-20%.
- 02Only 64 out of 118 apartments were sold under the First Come, First Served scheme.
- 03The price cuts will be determined based on the ready reckoner rates for each area.
- 04Most unsold units are priced between ₹4 crore and ₹8 crore.
- 05The cheapest apartment offered is priced at ₹31.17 lakh.
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The Maharashtra Housing and Area Development Authority (MHADA) is set to reduce prices for over 50 unsold apartments in Mumbai by 10-20% under its First Come, First Served (FCFS) scheme. Launched in February 2026, the scheme initially offered 118 apartments, but only 64 units were sold, indicating limited buyer interest. The price reductions aim to stimulate sales for the remaining units, which are primarily in the higher price range of ₹4 crore to ₹8 crore. Milind Borikar, CEO of MHADA's Mumbai Board, stated that the price cuts will be evaluated on a case-by-case basis, considering the ready reckoner rates of each area. Notably, the cheapest unit available is priced at ₹31.17 lakh in Mankhurd, while the most expensive unit is located in Tardeo at ₹8 crore. MHADA is focusing on selling these unsold flats through the open market rather than including them in future lotteries.
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The price reduction could make housing more affordable for potential buyers, especially in a market where many units remain unsold.
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