HoABL Invests Rs 200 Crore in Affordable Housing Project in Naigaon
House of Abhinandan Lodha (HoABL) is investing Rs 200 crore in an affordable housing project in suburban Naigaon, with plans to develop seven more sites in Mumbai over the next five years.
Affordable HousingReal EstateHoablMumbaiDigital SalesReal Estate NewsSep 22, 2025
HoABL Chairman, Abhinandan Lodha, announced the investment during a press conference. He stated that the company has already started discussions on one of the potential sites, while the others are still in the identification phase. One of the sites is strategically located near the upcoming Navi Mumbai International Airport, enhancing its appeal and accessibility.
The Naigaon project spans 12 acres and will be developed in two phases over the next five years. HoABL has partnered with Mittal Builders for this initiative, which will provide over 20 lakh square feet of development potential. According to Lodha, the project will deliver a mix of plotted developments, vertical developments, and hospitality services, all under the 'HoABL Growth' initiative. This initiative is dedicated to providing premium amenities along with affordable homes, making it an attractive option for first-time buyers and young families.
One of the key strategies HoABL is employing to make these homes affordable is the use of advanced digital technology. The company has embraced digital sales platforms and artificial intelligence to streamline the buying process and reduce costs. This approach has proven effective, with 8,838 online applications received for 1,419 units in the Naigaon project. Only 10% of these applicants visited the project site, highlighting the efficiency of the digital sales model.
Despite the lower profit margins associated with affordable housing, the high volume of sales helps to offset this. Lodha emphasized that the company is not overly capital-intensive in these projects, as they rely on land partners and focus on construction. HoABL aims to develop up to 25 lakh square feet of housing over the next five years, with a focus on proximity to railway stations and multiple sale cycles in newer projects.
The adoption of digital technologies has driven costs down by 25%, making it more affordable for potential buyers. HoABL has promised that the sale price of a flat will increase in every phase, ensuring a steady return on investment for both the company and buyers.
In the Naigaon project, the next sale of apartments will be held a year from now. This strategic approach allows the company to manage demand and maintain the value of the properties. With a strong focus on digital innovation and strategic partnerships, HoABL is well-positioned to lead the way in affordable housing development in Mumbai.
Frequently Asked Questions
What is the total investment by HoABL in the Naigaon project?
HoABL is investing Rs 200 crore in the Naigaon affordable housing project.
How many additional sites is HoABL planning to develop in Mumbai?
HoABL is looking at seven more sites for similar affordable housing developments 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 is HoABL making affordable housing more accessible?
HoABL is using advanced digital technology and artificial intelligence to streamline the buying process and reduce costs, making affordable housing more accessible.
What is the 'HoABL Growth' initiative?
The 'HoABL Growth' initiative is dedicated to providing premium amenities along with affordable homes, focusing on high-quality developments for first-time buyers and young families.
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