Abhinandan Lodha Group Bets Big On Budget Homes, ₹1,400 Cr Investment Planned In Naigaon

Mumbai: Mumbai-based real estate company, House of Abhinandan Lodha (HoABL), is investing Rs 1,400 crore in its first affordable housing project in Naigaon, a fast-growing suburb around an hour from Dadar. The project, launched under the name Growth Housing, will deliver 4,000 homes and develop 2 million sq. ft. over the next three years, with a target completion by 2029.

Massive Response to Digital-Only Launch

The first phase of the Naigaon project has already received a strong response. HoABL reported 8,838 registrations for just 1,419 homes, all done completely online. There were no sample flats, no site office, and no sales team involved. The process was managed using an AI-powered chatbot named Priya, guiding users from registration to transaction — a first-of-its-kind fully digital home-buying experience in India.

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Project Designed to Cut Costs and Boost Quality

Traditionally, affordable housing in India has been associated with low quality. However, HoABL aims to change this image. By removing unnecessary costs like model homes and high marketing expenses, the company says it has been able to cut prices by 20–25 percent. These savings are being passed on to buyers, making the homes truly affordable without compromising on quality. The project, which started in August 2025, was oversubscribed 6 times, showing strong demand from homebuyers.

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Partnership with Mittal Builders and Future Expansion Plans

The Naigaon project is being developed in partnership with Mittal Builders, and HoABL is investing Rs 200 crore in its first phase. The company has identified seven more sites in the Mumbai Metropolitan Region (MMR) for future affordable housing developments. One of these is already in early planning stages, while the others will follow. All upcoming projects will be done as joint developments with landowners.

Who’s Buying and at What Price?

The homes on offer include:

1 BHK (323 sq. ft.) – Rs 32.99 lakh

2 BHK (485 sq. ft.) – Rs 49.99 lakh

2 BHK (621 sq. ft.) – Rs 67.99 lakh

About 55 percent of the buyers are salaried individuals, while 45 percent are self-employed or business owners. Most buyers (60 percent) are between 25–38 years old. Also, 68 percent of sales came through channel partners, and 32 percent through direct channels.

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HoABL’s Broader Vision

The House of Abhinandan Lodha is known for its digital-first approach and has already delivered over 15 million sq. ft. of land across India. With another 39 million sq. ft. under development, the company has plotted projects in places like Goa, Dapoli, Neral, Vrindavan, and Ayodhya, and plans to be active in 48 cities by FY 2030.