MUMBAI, Nov. 5 -- Unable to find buyers for hundreds of its flats across Mumbai, including those overlooking the Kanjurmarg landfill and the sea, the Maharashtra Housing and Area Development Authority (Mhada) has initiated a proposal to reduce prices of the unsold inventory by up to 10%. If approved, the revised rates will come into effect when the Mumbai Housing and Area Development Board (MHADB) puts the apartments back on the market after Diwali under its First Come First Serve (FCFS) scheme. Mhada initially offers newly constructed homes through lottery draws. Flats that remain unsold after repeated attempts are subsequently transferred to MHADB, its Mumbai housing arm, which markets them under the FCFS category, allowing applicants to purchase them without participating in a lottery. Several such apartments have remained without buyers for years, including what was billed as Mhada's most expensive flat - a 1,500-sqft-plus apartment at Tardeo's Crescent Tower, priced at Rs.7.58 crore. The apartment was put up for sale again under the FCFS scheme in February but failed to attract any buyers. Similarly, several hundred of the 1,221 flats at Kannamwar Nagar remained unsold after Mhada's August lottery draw. The authority has housing units across several other locations in the city that have also failed to find takers. An MHADB official said the board has initiated price revisions to make unsold apartments more attractive. "If the proposal is cleared, prices of several flats will come down by up to 10%. However, the reduction will not necessarily be uniform across all the unsold apartments," the official stated. This is not the first time Mhada has attempted price cuts. In April, it reduced prices of Kannamwar Nagar flats by 7.5%, lowering 480 tenements from Rs.1.46-Rs.1.48 crore to Rs.1.35-Rs.1.37 crore. However, even with free parking, buyers stayed away. Major deterrents included the project's proximity to the methane-emitting Kanjurmarg dumping ground-ranked 12th globally by a 2026 University of California study-and ongoing criticism over affordability. Buyers routinely argue that Mhada homes are priced beyond the reach of the target demographic. High prices, poor locations, and landfill proximity have left Mhada with nearly 400 unsold flats in Mumbai. After authority approval, MHADB plans to invite applications for these apartments under the FCFS scheme following Diwali....