The Maharashtra Housing and Area Development Authority (MHADA) is preparing to sell its most expensive apartments, worth over ₹7 crore, on a first-come, first-served basis ahead of Diwali 2025. According to Hindustan Times, these premium flats are located in Crescent Tower, Tardeo, one of South Mumbai’s most upscale addresses.
Previously, these luxury homes were offered in MHADA’s Mumbai lottery under the High-Income Group (HIG) category but failed to find buyers. The authority has now moved away from the traditional lottery system and will allow interested buyers to purchase directly once the sale opens.
Crescent Tower: A Premium South Mumbai Project
Crescent Tower, developed by the Shapoorji Pallonji Group, offers panoramic views of the Mahalaxmi Race Course and the Arabian Sea, making it one of MHADA’s most premium offerings.
As per the report, the priciest flat in the project, a 3BHK unit on the 19th floor, is valued at ₹7.58 crore and includes staff quarters. Prices for the remaining seven apartments start at ₹5.93 crore.
MHADA to Release Advertisement Soon
A MHADA official told HT.com that an advertisement inviting buyers will be released before Diwali. Interested applicants will be able to register directly without waiting for a lottery draw. “The advertisement is expected to be out by the end of this week, though the date is not finalised,” the official added.
Background: Crescent Tower’s Journey with MHADA
The project came under MHADA’s portfolio in 2017 after the redevelopment of an old property under a policy allowing builders to retain part of the built-up area. Although that policy was later scrapped, MHADA continued to hold a share of apartments in the project.
When the Crescent Tower flats were first introduced, they became MHADA’s most expensive offering ever, raising eyebrows about the authority’s shift from affordable to luxury housing.
MHADA Lottery Quota for MPs and MLAs
Under the MHADA Act, 2% of the total homes offered in each lottery are reserved for Members of Parliament (MPs) and Members of Legislative Assembly (MLAs). The Crescent Tower flats had previously seen interest from several public representatives through this quota.
