House of Abhinandan Lodha is selling 1,419 apartments in Mumbai region for Rs 640 cr

Real estate firm The House of Abhinandan Lodha (HoABL) has sold 1,419 apartments for Rs 640 crore in its housing project in the Mumbai Metropolitan Region (MMR) amid strong demand for low-cost housing.In July last year, HoABL partnered with Mittal Builders to develop a housing project, ‘The Great Western’, at Naigaon in MMR, covering an area of ​​30 lakh sq ft and around 4,600 apartments, with an investment of Rs 2,000 crore.

The company launched the first phase of this project in September.

HoABL said in a statement on Thursday that the company allocated 1,419 homes to customers in the first phase last month after receiving the booking amount.

More than 8,800 customers had registered to purchase apartments. The company sold one-bedroom apartments for Rs 32.9 lakh each, while two-bedroom apartments for Rs 49.9 lakh.

HoABL has tied up with leading banks including SBI, HDFC Bank, Axis Bank and major housing finance companies for providing home loans to buyers.

Abhinandan Lodha, Chairman, HoABL, noted that the entire booking and allotment process was done online. He said the company would focus on delivering this project ahead of schedule. HoABL plans to launch the second phase of the apartments in the first week of February.

Founded in 2020, HoABL is mainly engaged in plotted development. It has so far sold around 13 million sq ft of developed land in Maharashtra, Goa and Uttar Pradesh.