The State Bank of India (SBI) has expressed interest in purchasing 24 Mumbai apartments put out for sale by the Maharashtra Housing and Area Development Authority (MHADA) under its First Come, First Served (FCFS) basis scheme.
According to MHADA officials, the SBI has written to them expressing their interest to purchase 24 apartments, and they will undertake further communication regarding the same.
"The SBI has expressed interest, and now we will communicating further with them to bring a closure. The pricing location everything will be studied in the coming days," said Milind Borikar, CEO of MHADA's Mumbai Board.
An email query has been sent to SBI. The story will be updated if a response is received.
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What is FCS scheme of MHADA?
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. 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.
{{/usCountry}}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. 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.
{{/usCountry}}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 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.
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.
More than 70% of the 118 apartments offered by the MHADA under the First-Come, First-Served (FCFS) scheme in Mumbai are 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.
In the Mumbai real estate market, nearly 70–80% of apartment registrations fall in the price bracket below ₹2 crore. Around 10–20% are in the ₹2 crore– ₹5 crore range, while the remaining 5–7% comprise properties priced above ₹5 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 the 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.