On Diwali, MHADA To Sell South Mumbai Luxury Flats, Prices Start From Rs 5.93 Crore

Last Updated:October 21, 2025, 11:53 IST

The luxury flats, worth over Rs 7 crore, are part of the Crescent Tower project in Tardeo and are aimed at the High-Income Group (HIG) category.

MHADA’s Crescent Tower Luxury Apartments Offer Panoramic Views, High-End Living. (Image: Shutterstock)

The Maharashtra Housing and Area Development Authority (MHADA) is set to put its most expensive apartments in South Mumbai up for sale on a first-come, first-served basis on the occasion of Diwali. The luxury flats, worth over Rs 7 crore, are part of the Crescent Tower project in Tardeo and are aimed at the High-Income Group (HIG) category.

In the last two Mumbai lotteries, these premium MHADA apartments failed to attract buyers under the High Income Group (MIG) scheme. In response, MHADA has decided to bypass the traditional lottery system and sell the units directly to interested buyers. 

An official stated that the unsold flats will be advertised publicly, allowing potential buyers to register without waiting for a draw. The advertisement is expected to be released before Diwali, although the exact date has not yet been finalised.

What we know about Crescent Tower?

The Crescent Tower project, developed by the Shapoorji Pallonji Group, offers high-end apartments with scenic views of the Mahalaxmi Race Course and the Arabian Sea. 

The most expensive unit, a 3BHK on the 19th floor, is priced at Rs 7.58 crore and comes with exclusive staff quarters. Prices for the remaining seven units start at Rs 5.93 crore and rise from there.

MHADA acquired a stake in Crescent Tower in 2017 when builders were allowed to redevelop old properties and retain part of the built-up area. Although the policy enabling this was later scrapped, the authority retained ownership of these luxury flats.

When first launched, the Crescent Tower apartments were MHADA’s priciest units in history, signalling a shift from the authority’s traditional role as a provider of affordable housing. The project also attracted applications from MLAs and MPs, who enjoy separate reservation privileges in MHADA lotteries.

By moving to a first-come, first-served sale, MHADA aims to clear its inventory of unsold luxury flats while appealing directly to high-income buyers.

Shuddhanta Patra

Shuddhanta Patra, a seasoned journalist with eight years of experience, serves as Senior Sub‑Editor at CNN News 18. With expertise across national politics, geopolitics, business news, she has influenced public...Read More

Shuddhanta Patra, a seasoned journalist with eight years of experience, serves as Senior Sub‑Editor at CNN News 18. With expertise across national politics, geopolitics, business news, she has influenced public...

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