Realty developer The House of Abhinandan Lodha (HoABL) has reported robust sales at its Mumbai Metropolitan Region (MMR) housing project, allotting 1,419 apartments in the first phase after receiving booking amounts from buyers. The company said the sales, which raised about Rs 640 crore, underline strong market appetite for affordable housing in the Mumbai suburbs.
Mumbai affordable housing sales drive project uptake
The project, called The Great Western, is being developed in partnership with Mittal Builders at Naigaon. Spread over roughly 30 lakh square feet, the development will ultimately comprise around 4,600 apartments and involves an estimated investment of Rs 2,000 crore. HoABL launched the first phase in September and said applications for the initial release exceeded expectations, with more than 8,800 customers applying to purchase units.
HoABL confirmed that one-bedroom flats were sold at Rs 32.9 lakh each while two-bedroom apartments were priced at Rs 49.9 lakh. The company has secured financing partnerships with major banks and housing finance companies, including the State Bank of India, HDFC Bank and Axis Bank, to help buyers access home loans.
Abhinandan Lodha, Chairman of HoABL, said the entire booking and allotment process was conducted online, allowing the company to manage demand efficiently and maintain transparency. He added that HoABL would prioritise delivering the completed homes ahead of schedule and expected to launch the second phase of apartments in the first week of February.
Industry analysts say the strong response to The Great Western’s initial phase reflects persistent demand for lower-cost housing options within the MMR, where high prices in central Mumbai push many buyers to suburban locations. Projects that combine competitive pricing, accessible finance and clear delivery timelines have seen steady interest from first-time buyers and middle-income families.
HoABL, founded in 2020 and previously focused on plotted development, has expanded its presence in the residential sector. The company said it has sold about 13 million square feet of developed land across Maharashtra, Goa and Uttar Pradesh to date. The new joint venture with Mittal Builders signals HoABL’s intent to scale up housing projects that target affordability.
Buyers in the recent allotment have benefitted from home-loan tie-ups with leading lenders, which the developer highlighted as an important factor in converting inquiries into confirmed bookings. Industry observers note that lender partnerships and digital booking platforms have become standard practice for developers seeking to speed sales and reduce administrative friction.
HoABL’s plan to bring the second phase to market in early February will be closely watched for its sales velocity and pricing strategy. If demand continues at the current pace, the developer may look to accelerate construction and consider additional phases or similar projects in other Mumbai suburban locations.
For now, the developer’s successful first-phase allocation provides a snapshot of sustained demand in India’s residential real estate market for affordably priced homes and highlights the role of financing and digital processes in driving conversions.
Key Takeaways:
- HoABL allocated 1,419 apartments in its MMR project after receiving booking amounts, reflecting strong demand for affordable homes and Mumbai affordable housing sales.
- The Great Western project at Naigaon spans about 30 lakh sq ft with roughly 4,600 units and a planned investment of Rs 2,000 crore.
- One-bedroom units sold at Rs 32.9 lakh and two-bedroom at Rs 49.9 lakh; the developer has tie-ups with major banks for home loans.
- HoABL plans a second-phase launch in early February and aims to deliver the project ahead of schedule.
