The Maharashtra Housing and Area Development Authority (MHADA) is expected to put its most expensive apartments, worth over ₹7 crore, up for sale on a first-come, first-served basis ahead of Diwali 2025. The MHADA’s luxury apartments were on sale in the last two Mumbai Lotteries under the High Income Group (MIG) category; however, they did not find any takers. As a result, 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.
“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.