Diwali 2025: MHADA to Sell Luxurious Apartments in South Mumbai on First-Come, First-Served Basis
The Maharashtra Housing and Area Development Authority (MHADA) is set to sell luxury apartments, worth over ₹7 crore, on a first-come, first-served basis before Diwali 2025. These premium units, located in Crescent Tower at Tardeo, were unsold in the last two lotteries and are now available for direct purchase.
Diwali 2025MhadaLuxury ApartmentsSouth MumbaiCrescent TowerReal Estate MumbaiOct 14, 2025
According to MHADA officials, these premium flats are located in Crescent Tower at Tardeo in South Mumbai. Built by the Shapoorji Pallonji Group, Crescent Tower is a high-end project reserved for the High-Income Group (HIG) category. The apartments offer breathtaking views of the Mahalaxmi Race Course and the Arabian Sea, making them highly desirable.
The most expensive unit, a 3BHK on the 19th floor, will be put on sale for ₹7.58 crore and includes exclusive staff quarters. Prices for the other seven units range from ₹5.93 crore upward. After two unsuccessful lotteries, MHADA decided to delink these luxury units from its traditional draw system and sell them directly to interested buyers by publishing an advertisement.
“The unsold flats will now be advertised publicly, allowing interested buyers to register directly without waiting for a draw. The advertisement is expected to come out to the public before Diwali by the end of this week. However, the date is not finalised,” a MHADA official told HT.com.
Crescent Tower, taken up by MHADA in 2017, became part of the authority’s portfolio over a decade ago when builders were permitted to redevelop old properties and retain part of the built-up area. Although this policy was later scrapped, MHADA retained a stake in the apartments in the project.
When the Crescent Tower flats were first launched, they drew attention for being the most expensive in MHADA’s history, challenging its image as a provider of affordable homes. The building also had applications from MLAs and MPs who have a separate reservation when it comes to the MHADA lottery.
As per the MHADA Act, 2% of the total homes sold in a lottery by the authority are reserved for MPs and MLAs. This quota ensures that political figures have access to these premium properties, adding another layer of exclusivity to the Crescent Tower project.
In summary, MHADA is taking a new approach to sell these high-end apartments by offering them on a first-come, first-served basis. This move is expected to attract a different set of buyers who are looking for luxury living in one of Mumbai’s most desirable locations.
Frequently Asked Questions
What is the price range of the luxury apartments being sold by MHADA?
The prices for the luxury apartments in Crescent Tower range from ₹5.93 crore to ₹7.58 crore.
Where are these luxury apartments located?
The luxury apartments are located in Crescent Tower at Tardeo in South Mumbai.
Why are these apartments being sold on a first-come, first-served basis?
The apartments were unsold in the last two lotteries, so MHADA decided to offer them directly to interested buyers through public advertisement.
When will the advertisement for these apartments be published?
The advertisement is expected to be published before Diwali 2025, possibly by the end of this week.
Who can apply for these luxury apartments?
Anyone interested in purchasing these luxury apartments can apply by registering directly without waiting for a draw.
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