Mumbai: With several high-value flats in its ongoing Mumbai Board lottery failing to attract buyers, the Maharashtra Housing and Area Development Authority (MHADA) is considering reducing prices of select units, officials said.
The move comes after a significant number of flats, mainly in the high-income group (HIG) category, remained unsold under both previous lotteries and the “First Come, First Served” scheme. MHADA Mumbai Board Chief Officer Milind Borikar said 54 of the 118 flats offered under the scheme are still unsold, with some carried over from earlier rounds.
Officials said weak demand for premium housing priced between ₹2 crore and ₹7 crore has prompted a rethink on pricing. These flats, located in Tardeo, Prabhadevi, Juhu, Borivali and Dadar, have seen limited response.
The current lottery, announced on March 29, offers 2,640 flats across categories. A final decision on price cuts will be taken after reviewing the ongoing lottery, officials said.
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