House of Abhinandan Lodha's Rs 200 Crore Bet on Affordable Housing in Mumbai

Realty firm, House of Abhinandan Lodha, has announced a substantial investment of Rs 200 crore in an affordable housing project situated in the suburban area of Naigaon, Mumbai. This initiative is part of a broader plan that includes development at seven identified locations across metropolitan Mumbai.

Chairman Abhinandan Lodha revealed in a press briefing that discussions have commenced for one of the identified sites, with plans to capitalize on the proximity to emerging infrastructures like Navi Mumbai International Airport. Lodha emphasized a collaborative approach through joint developments with landholders.

The Naigaon project, in partnership with Mittal Builders, spans 12 acres set for completion in two phases over five years. Lodha's strategy embraces digital technologies to streamline costs and pledges premium amenities at affordable prices, promising enhanced project volumes to maintain viability despite slimmer profit margins.

(With inputs from agencies.)