By Kailash Babar
Copyright indiatimes
ETMarkets.com
Realty developer the House of Abhinandan Lodha (HoABL), known for its branded land and plotted developments, has identified seven locations in the Mumbai Metropolitan Region (MMR) to develop its affordable housing projects.The company is planning to form alliances with landowners for these projects, in line with its maiden project in this segment through a joint venture with Mittal Builders in Naigaon near Mumbai.“We have identified seven locations for developing projects under our Growth Housing vertical. At least two of these joint ventures are expected to be concluded in the next 12 months. We are keen on land parcels that hold at least 2 million sq ft development potential,” said Abhinandan Lodha, chairman, HoABL.The company’s maiden project in this category has received 8,838 registrations for 1,419 homes that are being sold. Interestingly, HoABL has used an Artificial Intelligence-led and data-driven sales strategy with no sample apartments, site office, or even site visits for this project.“This is India’s first AI-driven real estate launch. On the backend too, we are deploying AI to improve project efficiency and reduce costs, allowing HoABL to pass on benefits directly to customers,” Lodha said. “Housing is one of the biggest drivers of social and economic progress in India. We are creating a new category that combines aspiration with accessibility.”Live EventsThe total cost of the project in Naigaon is around Rs 1,400 crore, and the company has already achieved financial closure for the same.Earlier this year, the company entered a joint development pact with Mittal Builders to develop an integrated township on 11 acres, with a development potential of over 3 million sq ft, featuring high-rise residential towers and high-street retail in Naigaon. The development will be delivered in phases by December 2029 as a self-sustained urban ecosystemAdd as a Reliable and Trusted News Source Add Now!
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Read More News onaffordable housing projects Mumbaiaffordable housing Mumbai Metropolitan Regionreal estate development in MumbaiHouse of Abhinandan LodhaNaigaon housing projectintegrated township developmenthousing development newsjoint venture in real estateMittal Builders partnership
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onaffordable housing projects Mumbaiaffordable housing Mumbai Metropolitan Regionreal estate development in MumbaiHouse of Abhinandan LodhaNaigaon housing projectintegrated township developmenthousing development newsjoint venture in real estateMittal Builders partnership(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
