MHADA to Cut Mumbai Flat Prices by Up to 20%

The Maharashtra Housing and Area Development Authority (MHADA) intends to cut the cost of over 50 flats provided in the Mumbai real estate market through its First Come, First Served (FCFS) scheme by 10%-20% after these units went unsold.

In February 2026, MHADA floated 118 flats under the FCFS programme, 64 of which were sold, and the remaining units drew little interest. To increase take-up, the council is now considering offering these unsold homes at a discount.

“We want to cut prices by 10% to 20% for flats that remain unsold under the FCFS scheme. Around 64 apartments are currently unsold; this is an estimate, and the precise amount is being determined,” said Milind Borikar, CEO of the MHADA Mumbai Board.

“The price reduction will be decided on a case-by-case basis, since we will need to consider the ready reckoner (RR) rates in each area.” The extent of the price cut will be determined accordingly,” Borikar stated.

What is the MHADA FCFS scheme?

In February 2026, the MHADA announced the sale of 118 units through an FCFS scheme. These flats were previously offered through multiple lottery schemes but went unsold for a variety of reasons; therefore, they were put up for sale on a first-come, first-served basis.

Flats were listed for sale in Kandivali, Charkop, Shimpoli, Antop Hill, Wadala, Powai, Malad, Mankhurd, Ghatkopar, Vikhroli, Byculla, Tardeo, Lower Parel, Sion, Juhu, and Andheri.

According to MHADA rules, units that remain unsold after two lottery rounds might be offered under the First Come, First Served (FCFS) plan. As a result, in February 2026, MHADA announced the sale of 118 similar units on a fee-for-service basis.

64 flats sold within the last two months.

The Maharashtra Housing and Area Development Authority sold approximately 64 flats under the FCFS scheme, with the majority of transactions falling in the lower price range. Unsold inventory typically costs between ₹4 crore and ₹8 crore. MHADA officials informed Hindustan Times Real Estate that the most costly apartment in South Mumbai, valued at ₹8 crore, is still unsold.

“We will continue our attempts to sell the remaining units under the FCFS plan. These units, however, will be excluded from the forthcoming lottery because they were previously unsold. 

Instead, we want to sell them on the free market,” Borikar stated in March 2026.

Price range of the 118 flats that were listed for sale

Over 70% of the 118 units offered by the MHADA under the FCFS plan in Mumbai were priced below ₹2 crore. According to MHADA’s website, there are 40 flats available for less than ₹1 crore, over 70 units for ₹2 crore, and 28 apartments for ₹2 crore to ₹8 crore.

The most expensive flat listed for sale by MHADA is at Crescent Tower in the Tardeo neighborhood of South Mumbai. According to the MHADA website, the apartment has a built-up size of around 1,838 sq feet (170.76 sq m) and a carpet area of about 1,532 sq ft (142.3 sq m).

The MHADA has advertised three more apartments in the same building, valued between ₹6.27 crore and ₹7.94 crore. The authority has listed multiple properties for sale in Juhu, Mumbai, with prices ranging from ₹3 crore to ₹5.50 crore, according to accessible data.

The Maharashtra Housing and Area Development Authority (MHADA) offers the most cheap apartments at PMGP Colony, Mankhurd. The unit’s built-up size is approximately 247 square feet (23 square meters), with a carpet surface of around 225 square feet (20.91 square meters). The price is ₹31.17 lakh, including an earnest money deposit (EMD) of ₹1 lakh. This category has only one available tenancy.

MHADA has advertised flats in Kandivali, Charkop, Wadala, Malad, and Byculla with prices ranging from ₹35 lakh to ₹3 crore.