Mumbai-based real estate firm House of Abhinandan Lodha (HoABL) plans to invest around Rs 14 billion in an affordable housing project in Naigaon, a suburb roughly one hour from Dadar. Over the next three years, the development will offer 4,000 apartments and 2 million sq ft of built-up space, with completion targeted by 2029 across three sales cycles, Abhinandan Lodha, founder and chairperson, said on 22 September.

The company is exploring seven additional locations within the Mumbai Metropolitan Region for similar affordable housing projects. The first initiative, Growth Housing, has launched in Naigaon, Western Mumbai. For its first phase, HoABL received 8,838 registrations for just 1,419 homes.

“This launch is not merely about building homes; it is about creating a category that merges aspiration with affordability, redefining conventional affordable housing models. We have adopted an AI-powered, fully digital approach. All 8,838 registrations were completed online, with no site office, sample flats, or sales team involved. The entire customer journey, from self-registration to transaction completion, is managed by AI through a chatbot named Priya, ensuring transparency,” Lodha told reporters.

The first phase of the Naigaon project, developed in partnership with Mittal Builders, involves an investment of Rs 2 billion. Discussions are ongoing for one of the seven proposed sites, while six others have been identified but not yet planned. One of these sites is near the upcoming Navi Mumbai International Airport. All future developments will be joint ventures with landowners.

AI Model Reduces Costs by 25 Per Cent

Traditionally, affordable housing has been associated with low quality. Growth Housing, however, eliminates unnecessary overheads such as sample flats, site offices, and traditional sales teams, cutting costs by 20–25 per cent and passing the savings directly to buyers. Since its launch in August 2025, the project has been oversubscribed six times, demonstrating strong market acceptance.

Naigaon, a key growth corridor in Western Mumbai, is just two minutes from Naigaon station, offering excellent connectivity to the city’s business hubs. HoABL is offering 1 BHK units (323 sq. ft.) from Rs 3.299 million, 2 BHK units (485 sq. ft.) from Rs 4.999 million, and larger 2 BHK units (621 sq. ft.) from Rs 6.799 million.

Salaried buyers account for 55 per cent of registrations, with self-employed and business owners making up 45 per cent. Around 68 per cent of registrations came through channel partners, while 32 per cent were direct. Notably, 60 per cent of buyers are aged 25–38.