Mumbai, April 30:
MHADA slashes Mumbai home prices by 7.5% in Kannamwar Nagar lottery
The Mumbai Board of the Maharashtra Housing and Area Development Authority (MHADA) has announced a 7.5% reduction in prices for 1,221 tenements in its Kannamwar Nagar project at Vikhroli (East). The units are part of the ongoing computerized lottery for 2,640 homes across multiple housing projects in the city.
Prices revised after board review
The decision follows the Board's review of pricing for select units in the lottery launched on March 30, 2026. At Kannamwar Nagar, 480 tenements were earlier priced between Rs 1.45 crore and Rs 1.47 crore. Similarly, under Code No. 539, tenements were priced between Rs 1.45 crore and Rs 1.48 crore.
After applying the 7.5% reduction, prices have been revised to Rs 1.34 crore to Rs 1.36 crore. Also, the prices of other houses have been revised to a range of Rs 1.34 crore to Rs 1.37 crore.
Parking included with each unit
Each tenement in the project will come with one car parking space at no additional cost. The authority has urged eligible applicants to take advantage of the revised pricing and participate in the lottery.
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Deadline extended till May 14
The online registration and application process began on March 30, 2026. To encourage wider participation, the deadline has been extended to May 14, till 11:59 pm. The computerized draw for eligible applicants is scheduled to be held on June 5, 2026.
