MHADA to Slash Prices of Over 50 Unsold Mumbai Flats by 10%–20% in FCFS Scheme
The Maharashtra Housing and Area Development Authority (MHADA) is set to reduce the prices of over 50 apartments in the Mumbai real estate market by 10%–20% under its First Come, First Served (FCFS) scheme. These units have remained unsold, and the authority aims to enhance buyer interest through these price cuts.
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. The authority is now looking to offer these unsold homes at discounted rates to improve uptake.
“We are planning to reduce prices by 10%–20% for apartments that remain unsold under the FCFS scheme. Around 64 units are currently unsold, this is an approximate figure, and the exact number is being finalised,” said Milind Borikar, CEO of MHADA's Mumbai Board.
“The price reduction will be decided on a case-by-case basis, as we will need to factor in the ready reckoner (RR) rates of each area. The extent of the price cut will be determined accordingly,” added Borikar.
What is MHADA's FCFS Scheme?
In February 2026, MHADA announced the sale of 118 flats under an FCFS scheme. These apartments were earlier offered through several lottery schemes but remained unsold for various reasons and were put up for sale on a First Come, First Served basis. The flats were put up for sale in areas such as Kandivali, Charkop, Shimpoli, Antop Hill, Wadala, Powai, Malad, Mankhurd, Ghatkopar, Vikhroli, Byculla, Tardeo, Lower Parel, Sion, Juhu, and Andheri.
According to the rules of the Maharashtra Housing and Area Development Authority (MHADA), apartments that remain unsold in two lottery rounds can be offered under the First Come, First Served (FCFS) scheme. Accordingly, in February 2026, MHADA announced the sale of 118 such apartments on an FCFS basis.
64 Apartments Sold in the Last Two Months
The Maharashtra Housing and Area Development Authority sold around 64 apartments under the FCFS scheme, with most transactions concentrated in the lower price bracket. The unsold inventory, however, largely falls in the higher price range of ₹4 crore to ₹8 crore. Notably, the most expensive unit, priced at ₹8 crore in South Mumbai, also remains unsold, MHADA officials told Hindustan Times Real Estate.
“We will continue efforts to sell the remaining units under the FCFS scheme. However, these units will not be included in the upcoming lottery, as they were unsold earlier. Instead, we are working to sell them through the open market,” Borikar had said in March 2026.
Price Range of the 118 Apartments
More than 70% of the 118 apartments offered by the MHADA under the FCFS scheme in Mumbai were priced below ₹2 crore. As per the price bifurcation on MHADA’s website, 40 flats are available below ₹1 crore, over 70 units fall under the ₹2 crore category, while 28 apartments are priced between ₹2 crore and ₹8 crore.
The most expensive apartment put up for sale by MHADA is located at Crescent Tower in the Tardeo area of South Mumbai. The apartment has a built-up area of approximately 1,838 sq ft (170.76 sq m) and a carpet area of around 1,532 sq ft (142.3 sq m), according to details on MHADA website.
Apart from this, the MHADA has listed three additional apartments in the same building priced between ₹6.27 crore and ₹7.94 crore. The authority has also put several flats on sale in Juhu, Mumbai, with prices ranging from ₹3 crore to ₹5.50 crore, according to available data.
The most affordable apartment offered by the Maharashtra Housing and Area Development Authority (MHADA) is located in PMGP Colony, Mankhurd. The unit has a built-up area of around 247 sq ft (23 sq m) and a carpet area of approximately 225 sq ft (20.91 sq m). It is priced at ₹31.17 lakh, with an earnest money deposit (EMD) of ₹1 lakh. Only one tenement is available in this category.
Apart from this, MHADA has also listed apartments across locations such as Kandivali, Charkop, Wadala, Malad, and Byculla, with prices ranging from ₹35 lakh to ₹3 crore.
