The Maharashtra Housing and Area Development Authority (MHADA) is expected to put out its most expensive apartments in South Mumbai, worth over ₹7 crore, up for sale on a first-come, first-served basis ahead of Diwali 2025. The MHADA's apartments were put on sale in the last two Mumbai Lotteries under the High Income Group (MIG) category; however, they did not find any takers. Due to this, the MHADA has now decided to sell those apartments on a first-come, first-served basis.
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 views of the Mahalaxmi Race Course and the Arabian Sea, according to a report by Hindustan Times.
The MHADA officials stated that the most expensive unit, a 3BHK on the 19th floor, will be put on sale at ₹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 directly to interested buyers by publishing an advertisement.
{{/usCountry}}After two unsuccessful lotteries, MHADA decided to delink these luxury units from its traditional draw system and sell directly to interested buyers by publishing an advertisement.
{{/usCountry}}"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.
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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.
MP and MLA quota in 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.