House of Abhinandan Lodha to invest nearly ₹1,400 crore in first affordable housing project in Naigaon, near Mumbai

Mumbai real estate: HoABL is set to invest around ₹1,400 cr in an affordable housing project in Naigaon, a suburban area approximately one hour from Dadar

Mumbai-based real estate firm House of Abhinandan Lodha (HoABL) is set to invest around ₹1,400 crore in an affordable housing project in Naigaon, a suburban area approximately one hour from Dadar. Over the next three years, the project will offer 4,000 apartments and develop 2 million sq ft of space. The development is expected to be completed in three sales cycles, with a target completion by 2029, Abhinandan Lodha, founder and chairperson of the company said on September 22. He said the company is exploring seven more locations within the Mumbai Metropolitan Region for similar affordable housing developments.

HoABL is set to invest around ₹1,400 crore in its first affordable housing project in Naigaon near Mumbai. (Photo for representational purposes only)

He said 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.

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 mn sq ft of land in less than five years. It has another 39 mn 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.