MHADA Plans 10%–20% Price Cut on Unsold FCFS Mumbai Flats

The Maharashtra Housing and Area Development Authority is planning price reductions on unsold apartments offered under its First Come, First Served scheme in Mumbai, as reported by the Hindustan Times.

These flats were earlier part of multiple lottery rounds but failed to attract adequate buyer interest. MHADA now aims to improve demand by offering discounts ranging from 10% to 20%. The move comes after sales under the FCFS scheme remained skewed towards lower‑priced units.

Background Of FCFS Scheme Apartments

In February 2026, MHADA floated 118 apartments under the FCFS scheme across Mumbai. These units had remained unsold after being included in 2 earlier lottery rounds, making them eligible for FCFS sale under MHADA rules.

Of the 118 apartments offered, around 64 were sold, primarily in lower price segments. The remaining inventory saw limited traction, prompting the authority to review pricing strategies.

Planned Price Reduction Strategy

MHADA plans to reduce prices of unsold apartments by 10%–20% to improve uptake. According to Mumbai Board CEO Milind Borikar, the exact number of unsold flats is still being finalised, but around 64 units remain available.

The discounts will not be uniform and will be decided on a case‑by‑case basis. Ready reckoner rates of respective localities will be a key factor in determining the extent of price cuts.

Location And Price Profile of Unsold Units

The FCFS apartments are located across multiple Mumbai areas, including Byculla, Tardeo, Lower Parel, Sion, Juhu, Andheri, Powai, Kandivali, Malad, and South Mumbai. MHADA officials indicated that most unsold units fall in the higher price band of ₹4 crore to ₹8 crore.

The most expensive apartment, priced at ₹8 crore in South Mumbai, also remains unsold. In contrast, lower‑priced homes witnessed comparatively higher demand.

Sales Outcome and Market Demand Trends

Out of the total apartments sold under the FCFS scheme, most transactions were concentrated in affordable and mid‑range segments. Higher‑value properties attracted fewer buyers despite being located in premium areas.

MHADA officials noted that buyer sensitivity to pricing remained evident during the sales process. The authority is now focusing on aligning price expectations with prevailing market conditions.

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Conclusion

MHADA’s proposed price cut reflects an effort to address inventory overhang under the FCFS scheme. The authority is seeking to sell the remaining apartments through open market mechanisms rather than including them in future lotteries.

Case‑specific pricing based on ready reckoner rates highlights a calibrated approach to improving demand. Overall, the move aims to enhance sales momentum while adjusting to market realities.

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