The Maharashtra Housing and Area Development Authority (MHADA) is gearing up to sell its priciest apartments, valued at over ₹7 crore, on a first-come, first-served basis just before Diwali 2025.
These upscale flats, located in Crescent Tower in Tardeo, South Mumbai, didn’t find buyers in the last two MHADA Mumbai Lotteries under the High-Income Group (HIG) category. As a result, MHADA is switching from its usual lottery system to direct sales.
Built by the Shapoorji Pallonji Group, Crescent Tower offers luxurious living with breathtaking views of the Mahalaxmi Race Course and the Arabian Sea. The most expensive unit, a 3BHK on the 19th floor with private staff quarters, is priced at ₹7.58 crore.
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The other seven units start from ₹5.93 crore. MHADA plans to advertise these flats to the public by the end of this week, letting buyers register directly, though the exact date is still up in the air.
Crescent Tower became part of MHADA’s portfolio in 2017 under a now-discontinued policy that allowed builders to redevelop old properties. These apartments have grabbed headlines for their steep prices, which contrast with MHADA’s image as a provider of affordable homes. The project also reserves 2% of units for MPs and MLAs, as required by the MHADA Act.
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This sale comes on the heels of MHADA’s recent announcement of results for 5,354 affordable homes and 77 plots in its 2025 lottery, showing its focus on both budget and luxury housing. With Mumbai’s real estate market buzzing, these premium apartments are a unique chance for wealthy buyers to own property in the heart of South Mumbai.
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