House of Abhinandan Lodha sells 1,419 flats in Mumbai region for ₹640 cr
House of Abhinandan Lodha has successfully allotted 1,419 apartments worth ₹640 crore at 'The Great Western' project in Naigaon, MMR, after receiving over 8,800 applications. The project, developed in partnership with Mittal Builders, offers one-bedroom flats at ₹32.90 lakh and two-bedroom units at ₹49.90 lakh, with the second phase launch scheduled for February.
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House of Abhinandan Lodha (HoABL) has successfully completed the allotment of 1,419 apartments worth ₹640.00 crore at its housing project in the Mumbai Metropolitan Region. The company completed the allotment process last month after receiving booking amounts from customers, demonstrating strong demand for affordable housing in the region with over 8,800 applications received.
Project Details and Partnership
The housing project, named 'The Great Western', is located in Naigaon within the Mumbai Metropolitan Region. HoABL partnered with Mittal Builders in July last year to develop this ambitious project, with the first phase launched in September.
| Parameter: | Details |
|---|---|
| Total Area: | 30 lakh sq ft |
| Total Apartments: | 4,600 units |
| Investment: | ₹2,000.00 crore |
| Location: | Naigaon, MMR |
Sales Performance and Pricing
The first phase witnessed exceptional market response, with customer applications exceeding available units by more than six times. The entire booking and allotment process was conducted online, reflecting modern customer preferences and operational efficiency.
| Apartment Type: | Price | Status |
|---|---|---|
| One-bedroom: | ₹32.90 lakh | Part of completed allotments |
| Two-bedroom: | ₹49.90 lakh | Part of completed allotments |
| Total Allotted: | ₹640.00 crore | 1,419 units |
Financial Support and Future Plans
To facilitate home purchases, HoABL has established partnerships with major financial institutions including SBI, HDFC Bank, and Axis Bank, along with leading housing finance companies. This comprehensive financing support enhances accessibility for potential buyers.
Abhinandan Lodha, Chairman of HoABL, emphasized the company's commitment to timely delivery, stating plans to complete the project ahead of schedule. The company plans to launch the second phase of apartments in the first week of February, indicating continued momentum in the project development.
Company Background
Established in 2020, HoABL primarily focuses on plotted development across multiple states. The company has successfully sold approximately 13 million sq ft of developed land in Maharashtra, Goa, and Uttar Pradesh, demonstrating its growing presence in the real estate sector.
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