IAS Sanjeev Jaiswal’s MHADA FCFS Scheme: 70% of 118 Mumbai Flats Priced Below ₹2 Crore, ₹8 Crore Tardeo Unit Tops the List

Under the leadership of IAS Sanjeev Jaiswal, Vice President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), the agency’s First-Come, First-Served (FCFS) housing scheme has introduced 118 apartments across Mumbai with a price structure that reflects the city’s real estate realities. More than 70 percent of these flats are priced below ₹2 crore, aligning with the dominant demand segment in Mumbai’s property market.

The scheme, launched from February 17, reopens flats that were earlier offered through lottery rounds but remained unsold. Rather than allowing inventory to stagnate, MHADA has repositioned these units under a transparent FCFS framework. The move signals a practical administrative shift toward supply activation and faster asset utilization.

Price Bifurcation: Where the Real Demand Lies

According to the price breakup available on MHADA’s official website, 40 flats are priced below ₹1 crore. Over 70 units fall under the ₹2 crore bracket. The remaining 28 apartments are priced between ₹2 crore and ₹8 crore.

This distribution mirrors Mumbai’s broader housing market trends. Nearly 70–80 percent of apartment registrations in the city fall below ₹2 crore. Around 10–20 percent are in the ₹2 crore to ₹5 crore range, while only 5–7 percent exceed ₹5 crore.

By structuring more than 70 percent of its inventory below ₹2 crore, MHADA’s FCFS offering is clearly aligned with where the majority of transactional demand exists. In a city where private developers often command premium pricing, the availability of 40 units under ₹1 crore is noteworthy.

The ₹8 Crore Crescent Tower Unit in Tardeo

At the top end of the spectrum is the most expensive apartment under the scheme — located at Crescent Tower in Tardeo, South Mumbai. The unit 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).

The flat is priced at ₹8,00,38,234, with an earnest money deposit (EMD) of ₹6 lakh. A total of two tenements are being offered in this category.

In addition, three more apartments in the same building are listed between ₹6.27 crore and ₹7.94 crore. MHADA has also put up several flats in Juhu priced between ₹3 crore and ₹5.50 crore.

While public housing agencies are often associated with affordable segments, these premium listings reflect the diverse portfolio inherited through redevelopment regulations and Development Control Rules. Such mixed pricing demonstrates how public bodies operate across varied urban segments rather than a single affordability tier.

The ₹31 Lakh Entry-Level Unit in Mankhurd

At the other end of the pricing spectrum is the most affordable unit under the scheme. Located in PMGP, Mankhurd, the apartment has a built-up area of around 247 sq ft (23 sq m) and a carpet area of approximately 225 sq ft (20.91 sq m).

The unit is priced at ₹31.17 lakh, with an EMD of ₹1 lakh. Only one tenement is available in this category.

In a city where median residential prices often exceed ₹1.5 crore in many micro-markets, a ₹31 lakh entry point represents a rare lower-cost opportunity, particularly for first-time buyers.

Beyond these two extremes, flats are available across Kandivali, Charkop, Wadala, Malad, and Byculla, with prices ranging from ₹35 lakh to ₹3 crore. This distribution ensures geographic diversity across suburban and central Mumbai.

What Is MHADA’s FCFS Scheme?

The FCFS model differs fundamentally from the traditional lottery mechanism. Earlier, these 118 flats were offered through lottery draws but remained unsold for various reasons. Instead of conducting repeated lotteries, MHADA has now opted for a first-come, first-served system.

Under this system, allocation depends on speed and compliance. Applicants must register online through MHADA’s official portal at bookmyhome.mhada.gov.in.

The process of submitting the online application, paying the security deposit and application fee, and selecting a flat will begin on March 4, 2026. Once a flat is finalized, the applicant must pay 10 percent of the sale price within 48 hours.

This time-bound payment requirement introduces discipline into the process. It discourages speculative blocking and ensures that only serious buyers secure units.

Eligibility Criteria and Compliance

As per MHADA guidelines, the applicant must be at least 18 years old on the date of application submission and must be an Indian citizen.

Prospective buyers should verify all details directly through MHADA’s official website. Given the scale of public interest in housing schemes, reliance on verified notifications is critical to avoid misinformation.

Market Context: Strategic Positioning

Mumbai’s housing market is one of India’s most stratified. Premium areas like Tardeo and Juhu command prices well above ₹5 crore for large units. Meanwhile, suburban localities remain relatively more accessible but still expensive by national standards.

By offering 40 flats below ₹1 crore and over 70 units below ₹2 crore, MHADA’s FCFS scheme is positioned squarely within the city’s most active transaction band. The presence of 28 flats in the ₹2–₹8 crore bracket adds portfolio depth without overshadowing the core affordability focus.

Administrative Significance

The reopening of unsold lottery units under an FCFS framework signals operational flexibility. Under IAS Sanjeev Jaiswal’s stewardship, MHADA has demonstrated responsiveness to market conditions. Instead of allowing idle inventory to remain locked in procedural cycles, the authority has activated supply in a time-bound, transparent manner.

While 118 flats cannot bridge Mumbai’s structural housing deficit, each structured release contributes to incremental supply efficiency.

For prospective buyers, preparedness will determine success. Registration speed, documentation accuracy, and timely payment compliance are central to securing a unit.

In a city where residential access is often constrained by price, availability, and timing, MHADA’s FCFS scheme offers a structured, transparent opportunity across multiple price points. With more than 70 percent of units priced below ₹2 crore, the offering aligns closely with Mumbai’s actual demand curve — balancing affordability with administrative pragmatism.