The Maharashtra Housing and Area Development Authority (MHADA) intends to cut prices by 10%–20% on more than 50 apartments in Mumbai that were offered under its First Come, First Served (FCFS) scheme but remained unsold.
In February 2026, MHADA had released 118 apartments through the FCFS scheme. While 64 units were sold, the rest attracted limited buyer interest. The authority now plans to offer these unsold homes at reduced prices to boost demand.
“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,” said Borikar.
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. (Source: The HT)
