HoABL Invests Rs 200 Crore in Affordable Housing Project in Mumbai
House of Abhinandan Lodha (HoABL) is set to invest Rs 200 crore in an affordable housing project in suburban Naigaon, with plans to develop seven more sites in Mumbai. The project aims to provide premium amenities along with affordable homes, leveraging digital technology to reduce costs.
Affordable HousingMumbai Real EstateHoablNaigaon ProjectDigital TechnologyReal Estate MumbaiSep 23, 2025
HoABL is currently in discussions for one of the sites, while the others are still in the identification phase. The seven sites include a location near the upcoming Navi Mumbai International Airport. Lodha stated, 'All these will be joint developments with landowners, aiming for over 20 lakh sq ft of development potential, which will be delivered over the next five years.'
The Naigaon project, a joint venture with Mittal Builders, spans 12 acres and will be developed in two phases over the next five years. HoABL's investment of Rs 200 crore will be crucial in bringing this project to fruition. The company has created a dedicated initiative called 'HoABL Growth' to focus on affordable housing, ensuring that premium amenities are provided alongside affordable homes.
Lodha emphasized that the use of digital technology in sales and construction has significantly reduced costs. 'We have adopted digital technologies, including the help of artificial intelligence, which has driven down costs by a fourth. This reduction in costs is passed on to the buyers, making the homes more affordable,' he said. Despite the lower profit margins, the high volume of sales compensates for this.
HoABL's approach to affordable housing is not only about providing homes but also about ensuring they are accessible and convenient. The Naigaon project received 8,838 online applications for 1,419 units on sale, with only 10 per cent of the applicants visiting the project site. 'The next sale of apartments will only be after a year, and we are committed to increasing the sale price of each flat in every phase,' Lodha added.
The company's strategy includes looking for development potential of up to 25 lakh sq ft over five years, with a focus on proximity to railway stations and efficient sale cycles. HoABL's multi-faceted approach, which includes plotted developments, vertical developments, and hospitality, positions it as a key player in the affordable housing market in Mumbai.
In conclusion, HoABL's investment in the Naigaon project and its plans for additional sites demonstrate a strong commitment to providing affordable housing solutions in Mumbai. The company's innovative use of technology and strategic partnerships are key to its success in this sector.
Frequently Asked Questions
What is HoABL's investment in the Naigaon project?
HoABL is investing Rs 200 crore in the Naigaon affordable housing project in suburban Mumbai.
How many additional sites is HoABL looking to develop in Mumbai?
HoABL is looking to develop seven more sites for similar affordable housing projects in Mumbai.
What is the size of the Naigaon project?
The Naigaon project spans 12 acres and will be developed in two phases over the next five years.
How does HoABL plan to reduce costs for buyers?
HoABL uses digital technologies, including artificial intelligence, to reduce costs by a fourth, which is then passed on to the buyers.
What is the expected development potential of HoABL's projects?
HoABL aims for a development potential of over 20 lakh sq ft, which will be delivered over the next five years.
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