Maharashtra Real Estate Appellate Tribunal (MREAT) directed promoters of RA Residences in Dadar East to deposit 2% penalty of project cost and execute conveyance deed for residential building proportionate to FSI consumed under 2017 plan with common areas and amenities.

Promoters required to apportion sale proceeds from commercial building units to allottees and hand over 64 remaining guest-parking spaces to society.

Project comprises two residential buildings and IT commercial building. Originally scheduled completion June 2018, extended to 2019, then March 2025.

Residential building built-up area increased from 30,540.77 sq m to 31,769.76 sq m; commercial building area rose substantially from 3,231.63 sq m to 7,473.74 sq m through additional premium FSI.

Society alleged plan was substantially altered in 2021 without prior consent, unauthorised FSI consumption, and failure to execute conveyance. MREAT held substantial deviation required allottees' prior informed consent with full disclosure. Plan shown July 2017 was revised and approved January 2021.

Tribunal held conveyance cannot be indefinitely deferred once building is complete, occupation certificate obtained, possession handed over, and society registered. Once development potential disclosed to allottees is exhausted, subsequently available additional FSI/TDR cannot be used for additional structures or floors.

Maharashtra Housing and Area Development Authority (MHADA) lottery for 2,640 tenements held 6 August 2026 at 12:00 PM.

Applications: 97,000 received; 75,300 valid EMD payers; 2,640 homes offered.

Income categories and pricing:

• EWS (family income up to Rs 6 lakh): 145 homes offered; Rs 29 lakh to Rs 35 lakh in Mankhurd and Goregaon
• LIG (Rs 6–9 lakh): 858 homes; Rs 35 lakh to Rs 1.50 crore in Vikhroli, Chembur, Ghatkopar
• MIG (Rs 9–12 lakh): Rs 1.50 crore to Rs 5 crore in Bandra, Dadar, Powai
• HIG (above Rs 12 lakh): Rs 5 crore to Rs 6.82 crore in Tardeo and South Mumbai

Prices reportedly 20–30% below comparable private market rates.

Claiming process: Download Provisional Offer Letter from MHADA account/app; visit MHADA office with identity, address, income documents; pay remaining 90% within 60–90 days; complete registration.

Additional costs: Stamp duty 5% (men), 4% (women), 6% (commercial); registration 1% or capped Rs 30,000 for residential; GST if applicable; society maintenance charges.

Lottery livestreamed on YouTube, Facebook, MHADA website.

MHADA lottery 2026 deadline extended to 11:59 PM 28 May for online applications; earnest money deposit deadline 29 May 2026.

Applications received: 84,782 for 2,640 apartments; 59,069 earnest money deposits submitted as of 25 May.

Schedule:

• Provisional list: 10 June 3:00 PM
• Claims and objections: until 12 June 3:00 PM
• Final list: 16 June 3:00 PM
• Computerised draw date to be announced

Apartments: 1,762 under construction (66%); 878 completed. Locations include Vikhroli, Goregaon, Borivali, Gorai, Chembur, Bandra, Ghatkopar, Wadala, Powai, Dadar, Mankhurd, Tardeo. Borivali East 128 units, Goregaon West 85 units, Kanamwar Nagar and Vikhroli remaining under construction.

Price range: ₹29 lakh to ₹6.82 crore. EWS apartments in Mankhurd from ₹29 lakh; Goregaon 300 sq ft at ₹32 lakh; HIG in Tardeo South Mumbai ₹6.82 crore. MHADA reduced prices on 1,221 tenements including 610 Vikhroli apartments with 7.5% cuts.

Documents: mobile linked to Aadhar, spouse Aadhar if married, caste certificates, widow applicants need spouse death certificate.

A 235 sq ft studio apartment in Dahisar West recently sold for ₹62 lakh at ₹26,000 per sq ft. Other recent transactions: Dadar, 160 sq ft for ₹49 lakh at ₹30,000 per sq ft; eastern suburbs, 259 sq ft for ₹68 lakh at ₹26,000 per sq ft; Bandra West, 270 sq ft for ₹83 lakh at ₹30,000 per sq ft. ₹50–60 lakh now buys only 200 sq ft in Mumbai even in peripheral localities. Supply of studio apartments is extremely limited; developers often construct them to meet approval conditions for converting industrial land to residential, or as add-ons (pooja room, study, staff quarters, home office) to larger apartments. Studio apartments popular among singles and young couples seeking compact ownership. Also referenced: Abhishek Bachchan purchased six apartments in Borivali for ₹16 crore, including two measuring 252 sq ft each (1 RK apartments).

Phase 2 of Mumbai Metro Line 3 (Aqua Line), connecting BKC to Worli, expected to open April 2025; full corridor operational by July 2025. Route is 33.5 km long, connects Aarey Colony with Cuffe Parade. Phase 1 (October 2024) connected Goregaon to BKC with 10 stations including SEEPZ and Andheri MIDC. Phase 2 will link BKC to Dharavi, Dadar, Siddhivinayak Temple, and Worli.

Residential: Per sq ft rates in South and Central Mumbai currently ₹45,000 to ₹1.60 lakh. Major developers: Lodha Group, Godrej Properties, Sunteck Realty, Prestige Group, Puravankara. Metro expected to benefit middle-class professionals and executives commuting to BKC, Central Mumbai, and suburbs. UHNIs and HNIs likely to favour Mumbai Coastal Road instead.

Commercial: Knight Frank 2024 report projects 4-6 mn sq ft mixed-use office space in South Mumbai over 6-8 years. Nariman Point office rents projected to rise from ₹569 per sq ft to ₹1,091 per sq ft by 2030. Rents surged 52% to ₹569 per sq ft from 2018 to H1 2024, outpacing BKC's 20% growth. Worli, Dadar, and Mahim residents expected to benefit most from improved connectivity.