HoABL Invests Rs. 1,400 Cr in Affordable Homes Near Mumbai

House of Abhinandan Lodha (HoABL), a Mumbai-based real estate company is planning to invest approximately Rs. 1,400 crores in an affordable housing project in Naigaon, a locality around an hour away from Dadar in West Mumbai. The project will build 4,000 apartments over an area of 2 million sq. Ft in the next three years, with Abhinandan Lodha, founder and chairperson of HoABL stating, 'We plan to complete the development in three cycles of sales. We expect to complete it by 2029.'

He went on to say that they were looking at a further seven sites in the Mumbai Metropolitan Region real estate for affordable housing developments.

Key Highlights

• HoABL invests Rs. 1,400 crores in Naigaon affordable housing, delivering 4,000 AI-powered digital-first apartments by 2029.
• Project cuts costs by 20–25 percent through AI-led sales, no sample flats, and zero site offices, passing savings to buyers.
• Mogal City launch saw 6x oversubscription, showcasing rising demand for value-driven affordable housing in Mumbai.

He continued to say that they are investing Rs. 200 crores into the first phase of the Naigaon development, which is to be partnered with Mittal Builders. HoABL have also started dialogues for one of the seven proposed sites, while the other six are sites that have been identified but not yet planned for development.

Also Read: HoABL, Mittal Builders to Launch Rs. 2,000 Cr Naigaon Township

“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 in India. We have used an AI-powered real estate platform and a 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.

"All these will be joint developments with people holding the land," he said.

Also Read: HoABL & Zepto partner to digitise land buying in Vrindavan

Historically, affordable housing was equated with low quality. Growth Housing seeks to truly achieve affordability by eliminating unnecessary costs. Significant overhead costs from sample flats, site offices, and sales teams. By eliminating nonoperations like sample flats, site offices, and conventional sales teams, HoABL has reduced prices by 20-25 percent, relaying much of that saving to the consumer. Mogal City, launched in August 2025 saw a 6x oversubscription, indicating value is required by buyers, and that they are making demands of traditional builders, said Lodha.