House of Abhinandan Lodha Invests ₹1,400 Crore in Affordable Housing in Naigaon
Mumbai-based House of Abhinandan Lodha (HoABL) is set to invest ₹1,400 crore in an affordable housing project in Naigaon, a suburban area approximately one hour from Dadar. The project aims to offer 4,000 apartments and develop 2 million sq ft of space over the next three years.
Affordable HousingReal EstateHouse Of Abhinandan LodhaMumbaiNaigaonReal Estate MumbaiSep 22, 2025
He said the company is exploring seven more locations within the Mumbai Metropolitan Region for similar affordable housing developments. HoABL has launched Growth Housing, its first affordable housing initiative in Naigaon, Western Mumbai. For its first phase, it has received around 8,838 registrations for just 1,419 homes.
“This launch is not just about building homes, it's about creating a new category that combines aspiration with affordability, breaking the mold of conventional affordable housing models. We have used an AI-powered, digital-only approach for the project. All 8,838 registrations were done online, with no site office, no sample flats, and no sales team involved. The entire customer journey, from self-registration to transaction completion, has been streamlined through AI, through a chatbot named Priya, ensuring a transparent process for buyers,” Lodha told reporters.
He said the company is investing ₹200 crore in the first phase of the Naigaon project, which is being developed in partnership with Mittal Builders. HoABL has also begun discussions for one of the seven proposed sites, while the remaining six have been identified but are yet to enter the planning stage. The seven sites include one near the upcoming Navi Mumbai International Airport, he said.
Traditionally, affordable housing has been synonymous with low quality. However, Growth Housing aims to make affordable housing truly affordable by eliminating unnecessary costs. High overheads from sample flats, site offices, and sales teams. By cutting out all non-essential elements, like sample flats, site offices, and traditional sales teams, HoABL has been able to reduce costs by 20-25%, passing on these savings directly to the consumer. This experiment, launched in August 2025, has seen 6x oversubscription, proving that this approach resonates with buyers, Lodha said.
Naigaon, a key growth corridor in Western Mumbai, is located just 2 minutes from Naigaon station, offering strong connectivity to the city’s business hubs. HoABL is offering 1 BHK (323 sq. ft.) starting at ₹32.99 lakh, 2 BHK (485 sq. ft.) starting at ₹49.99 lakh, and 2 BHK (621 sq. ft.) starting at ₹67.99 lakh.
According to the company, salaried buyers account for 55% of registrations, while self-employed and business owners make up 45%. Additionally, 68% of registrations came through channel partners, with 32% through direct channels. Notably, 60% of buyers fall within the 25–38 age group.
The House of Abhinandan Lodha is a branded land developer. The company has a fully digital sales model and has delivered over 15 million sq ft of land in less than five years. It has another 39 million sq ft of land under active development. These four plotted developments are located in Anjarle, Dapoli, Neral, and Goa. The company has also launched plotted developments in Alibaug, Khopoli, Nagpur, Vrindavan, and Ayodhya and has launches planned in Amritsar and Shimla. It aims to be present in 48 locations across the country by FY 2030.
Frequently Asked Questions
What is the total investment for the affordable housing project in Naigaon?
The total investment for the affordable housing project in Naigaon is ₹1,400 crore.
How many apartments will be offered in the Naigaon project?
The Naigaon project will offer 4,000 apartments.
What is the expected completion date for the Naigaon project?
The project is expected to be completed by 2029.
What innovative approach is HoABL using for the Naigaon project?
HoABL is using an AI-powered, digital-only approach for the project, with all registrations and transactions handled online through a chatbot named Priya.
What are the starting prices for the different types of apartments in the Naigaon project?
The starting prices for the apartments are: 1 BHK (323 sq. ft.) starting at ₹32.99 lakh, 2 BHK (485 sq. ft.) starting at ₹49.99 lakh, and 2 BHK (621 sq. ft.) starting at ₹67.99 lakh.
Related News Articles
Ex-Police Officer Charged with Rs 1.80 Crore Real Estate Fraud in Jammu
The Crime Branch (EOW) Jammu has filed a charge-sheet against a former police officer for a real estate fraud worth Rs 1.80 crore, involving a reputed doctor's wife in Jammu.
Navi Mumbai Residents Rejoice as CIDCO Announces Freehold Land Conversion
The City and Industrial Development Corporation of Maharashtra (CIDCO) chairman, Sanjay Shirsat, has announced the conversion of leasehold land to freehold, bringing relief to Navi Mumbai residents.
Birla Estates Achieves Rs 6 Billion in Housing Sales: A New Benchmark in the Industry
Birla Estates has set a new standard in the housing market with its focus on design and market knowledge, with Bengaluru being a key hub for the company's success.
Indian Real Estate Giants Slash Debt, Bookings Surge to Record Highs
Mumbai: The top eight listed real estate developers in India have drastically cut their net debt by 54% in the first quarter of the current fiscal year (FY25) from the peak in FY19, according to a recent report. This reduction has been accompanied by a su
Maha Assembly Polls: Ajit Pawar to Clash with Two Nephews in Baramati and Karjat-Jamkhed
NCP chief and Deputy Chief Minister Ajit Pawar is set to face a significant challenge in the upcoming Maharashtra Assembly elections, as he takes on two of his nephews, Yogendra Pawar and Yash Pawar, in the Baramati and Karjat-Jamkhed constituencies.
2025 Outlook: Private Capital Market in India
Experts believe that the growth of the private capital market in India, including venture capital, private equity, and private debt, will be driven by new age businesses and a vibrant startup ecosystem.