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MHADA May Cut Prices of 50+ Unsold Mumbai Flats Under FCFS Scheme by Up to 20%

  • by- Zaid
  • Apr 21, 2026
The Maharashtra Housing and Area Development Authority plans to reduce prices of over 50 apartments offered in the Mumbai real estate market under its First Come, First Served scheme by 10-20%, after these units remained unsold.
MHADA May Cut Prices of 50+ Unsold Mumbai Flats Under FCFS Scheme by Up to 20%

Mumbai, April 21: In February 2026, MHADA had floated 118 apartments under the FCFS scheme, of which 64 were sold, while the remaining units saw limited buyer interest.

Key Details

  • Unsold units: Approximately 64 (figure being finalised)

  • Proposed discount: 10%–20% (case-by-case basis)

  • Discount basis: Ready reckoner rates of each area

  • Unsold inventory concentration: Higher price range (4 crore – 8 crore)

Price Range of 118 Apartments (February 2026)

  • Below 1 crore: 40 flats

  • 2 crore category: 70+ units

  • 2 crore – 8 crore: 28 apartments

Most Expensive Unit

Located at Crescent Tower, Tardeo (South Mumbai) : Approximately 1,838 sq ft built-up area, priced at around 8 crore (remains unsold).

Most Affordable Unit

Located in PMGP Colony, Mankhurd : Approximately 247 sq ft built-up area, priced at 31.17 lakh.

Locations Covered

Kandivali, Charkop, Shimpoli, Antop Hill, Wadala, Powai, Malad, Mankhurd, Ghatkopar, Vikhroli, Byculla, Tardeo, Lower Parel, Sion, Juhu, Andheri

Official Statement

Milind Borikar, CEO of MHADA's Mumbai Board, said: "We are planning to reduce prices by 10%–20% for apartments that remain unsold under the FCFS scheme. The price reduction will be decided on a case-by-case basis, as we will need to factor in the ready reckoner rates of each area."

Note

These unsold units will not be included in the upcoming lottery. MHADA is working to sell them through the open market.