MHADA drops flat prices in Vikhroli to 7.5% owing to poor public...

MHADA has cut prices of flats in its Vikhroli housing scheme by 7.5 per cent after the units drew a weak response from applicants. The reduction is aimed at improving uptake of the unsold inventory in the eastern Mumbai suburb.

The original pricing had deterred buyers, leaving a number of flats without takers despite the persistent demand for affordable and mid-segment housing in the city. The revised rates are intended to make the units more competitive against private supply in the area.

The move reflects a recalibration by the housing authority, which periodically adjusts scheme pricing based on market response. Lower entry prices could help clear the backlog while offering relatively affordable ownership options in a high-cost market.