Mumbai’s expanding northern suburbs are witnessing renewed momentum in affordable housing, with a large-scale residential project in Naigaon recording the digital allotment of over 1,400 homes at an estimated transaction value of nearly Rs 640 crore. The development, located within the Mumbai Metropolitan Region (MMR), highlights how demand for lower-priced, well-connected housing continues to reshape growth corridors beyond the city’s traditional residential belts.
According to project disclosures, the allotment process was conducted entirely online, allowing registered applicants to verify eligibility and secure homes without physical site visits or sales offices. Successful buyers received digital allotment confirmations immediately, marking a shift in how large housing projects engage with consumers. Industry analysts say such models reduce transaction friction and improve transparency, particularly for first-time buyers navigating complex urban property markets. The Naigaon project represents the first affordable housing venture by a Mumbai-based real estate group better known for premium developments. Of the homes allotted in the initial phase, just over half were one-bedroom units, with the remainder comprising two-bedroom configurations. Buyer profiles indicate a near-even split between salaried and self-employed households, reflecting broad-based demand driven by rising rental costs and limited supply of budget homes closer to employment hubs. Early payment data suggests strong buyer commitment, with a significant majority of allottees having already met scheduled instalments. Housing finance access played a critical role, supported by tie-ups with public and private sector lenders as well as housing finance companies. Urban economists note that smoother credit availability remains essential for sustaining affordable housing uptake, especially as interest rate sensitivity is higher in this segment than in luxury markets.
Beyond sales figures, the project is notable for its scale and long-term intent. Planned as a multi-phase development over the next three years, it aims to deliver around 4,000 homes and create nearly two million square feet of residential space by the end of the decade. The development is being executed under a joint development arrangement with another Mumbai-based construction firm, a structure increasingly common as landowners and developers share risk in capital-intensive urban projects. Urban planners view Naigaon’s growth as part of a larger pattern across the MMR, where peripheral locations are absorbing housing demand that core city areas can no longer accommodate affordably. However, they caution that residential expansion must be matched by investments in transport, water supply, waste management, and climate-resilient infrastructure to avoid replicating the stresses seen in older suburbs.
As the second phase of the project prepares for launch in early 2026, the Naigaon development offers a case study in how affordable housing, digital delivery models, and suburban connectivity are converging. For policymakers and developers alike, the challenge ahead lies not just in building homes, but in ensuring these emerging neighbourhoods evolve into liveable, inclusive, and sustainable urban communities.
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Mumbai Naigaon Affordable Housing Draws Strong Buyer Response
