HoABL Launches 1% Payment Plan For Naigaon Housing Project; Aims To Ease Homebuying Entry

Mumbai: The House of Abhinandan Lodha (HoABL) has introduced a new payment model—‘Growth Investment Plan’ (GIP)—for its housing project at Naigaon in Mumbai’s western suburbs, seeking to lower the upfront financial burden for homebuyers and attract first-time buyers.

Announced on April 8, the plan allows buyers to enter the property market with significantly reduced initial payments compared to conventional structures, while remaining aligned with RERA norms. The initiative is part of HoABL’s broader “Growth Housing” concept aimed at combining homeownership with investment potential.

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Adding visibility to the initiative, veteran actor Amitabh Bachchan has been associated with the project as a “Growth Mentor”.

Flexible payment structure

Under the GIP model, buyers can book a home with a nominal registration amount of Rs 999, followed by 9.9% at booking and 10% one month later. Thereafter, buyers pay 1% of the agreement value per month until possession, with the balance payable at handover.

Typically, buyers are required to pay around 45% of the property value at this stage of construction, but the new structure aims to stagger payments and improve affordability.

The project has also received advance processing facility approvals from lenders such as State Bank of India, HDFC Bank, and ICICI Home Finance, easing access to home loans.

As part of the launch, around 1,000 units are being offered, including 1 BHK apartments (323 sq ft) starting at Rs 34.99 lakh and 2 BHK units (485 sq ft) starting at Rs 52.99 lakh, positioning the project as an option for both end-users and investors.

The developer has announced several buyer-focused features, including a one-year post-possession buyback guarantee at the original purchase price, a 10-year structural warranty—double the industry norm—along with digital transaction processes, security systems, and power backup for common areas.

HoABL also highlighted that the entire buying journey is designed to be digital-first, with no physical site office, sales personnel or sample flats. The company said over 1 lakh AI-driven customer interactions have already reflected strong demand for the concept.

The launch follows the company’s earlier “Growth Housing Edition 2025”, which saw 1,419 homes attract 8,838 applications and sell out within weeks.

Abhinandan Lodha, Chairman of HoABL, said the new model addresses a key gap in the market by combining affordability, trust, and flexibility. “A home is more than just shelter—it is a source of emotional comfort. With the GIP model, we aim to make quality housing more accessible while maintaining convenience and transparency,” he said.

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Project details

The Naigaon development is being executed under a joint development agreement with Mittal Builders, with Xanadu Realty acting as the knowledge partner.

Positioned as a large-scale township, the project will feature high-rise towers, over 80 amenities, and integrated retail and lifestyle spaces, with a focus on sustainability and community living.

With the introduction of the GIP model, HoABL aims to tap into growing demand for flexible homeownership solutions and expand participation in Mumbai’s housing market.

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