Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Realty firm The House of Abhinandan Lodha (HoABL) has sold 1,419 apartments worth around INR 640 crore in the first phase of its housing project The Great Western in the Mumbai Metropolitan Region, highlighting strong demand for affordable homes. Developed in partnership with Mittal Builders at Naigaon, the project attracted over 8,800 applications, far exceeding available units. One-bedroom homes were priced at INR 32.9 lakh and two-bedroom units at INR 49.9 lakh. The company conducted the entire booking and allotment process online and plans to launch the second phase in February.
The House of Abhinandan Lodha (HoABL) has reported robust sales at its affordable housing project in the Mumbai Metropolitan Region (MMR), selling 1,419 apartments valued at approximately INR 640 crore during the first phase. The strong response underscores sustained end-user demand for low-cost homes in peripheral urban markets. Advertisement
HoABL had entered into a partnership with Mittal Builders in July last year to develop The Great Western project at Naigaon in MMR. The large-scale residential development spans around 30 lakh square feet and will comprise nearly 4,600 apartments, with a total planned investment of about INR 2,000 crore. The first phase of the project was launched in September.
According to the company, more than 8,800 prospective buyers applied for apartments in the first phase, reflecting demand far in excess of supply. In this phase, one-bedroom apartments were priced at INR 32.9 lakh, while two-bedroom homes were offered at INR 49.9 lakh, positioning the project firmly in the affordable housing segment.
HoABL stated that bookings and allotments were carried out entirely through an online process, indicating growing acceptance of digital platforms in residential real estate transactions. The company has also tied up with leading lenders such as State Bank of India, HDFC Bank, Axis Bank, and several housing finance companies to facilitate home loans for buyers.
Chairman Abhinandan Lodha said the company remains focused on timely execution and aims to deliver the project ahead of schedule. Riding on the strong response to the first phase, HoABL plans to launch the second phase of apartments in the first week of February.
Founded in 2020, HoABL has primarily focused on plotted developments and has sold around 13 million square feet of developed land across Maharashtra, Goa, and Uttar Pradesh. The success of this MMR project marks a significant expansion of its footprint in the apartment housing segment.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
