Mhada drops Vikhroli flat prices owing to poor public response

MUMBAI: Given poor public response, Mhada has announced a price reduction of 7.5% for the sale of 1,221 flats in Vikhroli for its upcoming lottery June 5.

The rate effectively drops by Rs 10 lakh. The price of each flat in Kannamwar Nagar, Vikhroli, was Rs 1.45-1.48 crore which now settles at Rs 1.35-1.37 crore.



Public response to the Mhada housing lottery has been poor in recent years given that its once affordable flats are now sold at market rate. Prospective buyers say that private builders offer far better construction quality and amenities for the same amount.

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