Mumbai: MHADA Slashes Base Prices, Re-Auctions 84 Shops After Years of Weak Demand
Mumbai, 27th November 2025: Hoping to break a year-long spell of sluggish sales, the Mumbai Board of the Maharashtra Housing and Area Development Authority (MHADA) has launched yet another re-auction of its unsold commercial shops—this time with significantly reduced base prices. The e-auction registration and application process opened on Thursday at 11 a.m., and buyers have until 21 December to submit applications along with the earnest money deposit (EMD). Bidding will follow, with final results to be announced on 24 December.
MHADA routinely sells commercial units in its housing complexes to ensure essential services for residents. While earlier auctions saw strong demand, the momentum has shifted in the past two to three years.
-In 2024, MHADA put 173 shops up for auction, but many failed to find buyers.
-In August 2025, 149 unsold shops were re-auctioned; however, September results showed only 70 shops sold, leaving 79 still vacant.
The persistently low turnout has locked up crores of rupees in expected revenue, prompting the Mumbai Board to re-auction 84 shops this time. The lot includes the 79 unsold units from the September round, plus five units surrendered after bidding.
Why Buyers Stayed Away
According to officials, the weak response is linked to three main factors:
-Several shops are old structures
-Many are located in areas with limited commercial potential
-Previous base prices were simply too high
To address these issues, MHADA reviewed usage conditions and overhauled its pricing policy. Earlier, the bidding price was determined as the higher of:
-1.5 times the ready reckoner rate for residential units, or
-The ready reckoner rate for commercial units
Going forward, only the commercial ready reckoner rate will be used—bringing down prices substantially.
Location-Wise Availability and Base Prices
Location Total Shops Base Price Range
Swadeshi Mill, Kurla 5 ₹64,27,155 – ₹87,31,936
Ghawanpada, Mulund 4 ₹62,13,536 – ₹1,09,86,046
Kopari, Powai (Building No. 1) 15 ₹1,43,00,563 – ₹4,09,07,152
Model Town, Majaswadi 1 ₹61,91,977
Siddharth Nagar, Goregaon 1 ₹1,17,09,852
Bimbisar Nagar, Goregaon 17 ₹1,21,61,186 – ₹9,65,63,012
Malvani, Malad 29 ₹28,58,110 – ₹38,01,191
Charkop Plot 1–2 2 ₹50,48,065 – ₹60,71,195
Charkop Plot 2–6 6 ₹46,08,676 – ₹71,02,623
Charkop Plot 3–4 4 ₹33,57,661 – ₹1,25,76,638
MHADA officials are hopeful that the revised pricing formula will finally revive buyer interest and help clear the long-pending inventory. Whether this strategy succeeds will become clear on 24 December, when the auction results go public.
