Abhinandan Lodha says well-paid young professionals cannot afford Mumbai homes

What Lodha said

Speaking on a housing affordability panel at the Rising Bharat Summit in Mumbai, Abhinandan Lodha said soaring land prices, construction costs and government levies have pushed property prices beyond the reach of many young buyers. The panel was asked why professionals entering their 30s were finding it difficult to buy a basic one-bedroom apartment in the city.

Lodha said the cost of land in Mumbai and the cost of taxes have risen so far that it is now, in his words, simply impossible for young people to buy houses. He said construction costs will keep rising.

His remarks are a policy and market view. They are not a statement about a specific project of Lodha Developers Ltd.

Affordable housing and the Rs 50-60 lakh segment

Lodha said affordable housing is typically understood as homes priced below Rs 50-60 lakh, and that affordable housing and affordability are not necessarily the same thing. He said demand in the sub-Rs 50-60 lakh segment remains strong, but building and selling homes at those prices needs substantial government support.

He named stamp duty and premiums among the costs that could be reduced. He said that unless government steps in with cheaper land or lower stamp duty and premiums, affordability will continue to suffer. Asked about policy, he listed incentives, lower rates and lower premiums.

On floor space index (FSI), Lodha argued that higher FSI allows more homes to be built, but also raises the need for supporting infrastructure. In his view, FSI alone would not solve the problem.

Lodha said technology could help cut the cost of delivering affordable homes. He said making homes affordable inside Mumbai itself is a harder challenge because of land costs and government-imposed charges.

The Naigaon project cited

Lodha cited a Naigaon project where, he said, the company launched all units below Rs 50 lakh and cut its overall project cost by 22%. The company that developed it is The House of Abhinandan Lodha (HoABL).

The report on the remarks does not name the project. The Naigaon project is identified here as the HoABL project in Naigaon East, Western Mumbai, based on the company's own project information.

Per the company's account, HoABL allotted 1,419 homes at its debut project in Naigaon. The first phase drew 8,838 registrations for those 1,419 homes, and 80% of buyers kept to their payment schedules. Sales were completed online, without site visits or a sales team, according to a report on the project.

Project listings give different unit sizes, prices and completion dates. Launch-era reporting gave a 1 BHK price from ₹32.99 lakh and a 2 BHK price from ₹49.99 lakh. Reported target possession dates are December 2028 and December 2029. As of 3 November 2026, buyers should confirm current pricing, RERA registration and possession dates directly with the developer and the MahaRERA portal.

HoABL is also exploring seven more sites in the Mumbai Metropolitan Region for similar affordable projects, including one near the upcoming Navi Mumbai International Airport.

Connectivity and the Metro 13 corridor

Naigaon sits on the Western Mumbai growth corridor and is about two minutes from Naigaon railway station, according to a trade report on the project. The locality is roughly an hour from Dadar by suburban train.

Maharashtra's Cabinet Infrastructure Committee approved Metro Line 13 at ₹17,724.99 crore in August 2026. The 25.03 km corridor will link Mira-Bhayandar with Vasai-Virar, with 21.78 km elevated, 3.25 km underground and 16 stations. It will also connect with suburban stations at Naigaon, Nalasopara and Virar. The corridor is expected to carry about 4.49 lakh passengers a day by 2031. Officials estimate it could cut road travel time by nearly 50%.

Lodha said buyers who want to live closer to central Mumbai otherwise have to commute from places such as Naigaon or Vasai.

What it means for buyers and the market

Lodha's remarks put the affordability gap in Mumbai on the record from a senior developer. For buyers in the sub-Rs 60 lakh range, the main points are the cost drivers he named: land, construction, stamp duty and premiums.

Niranjan Hiranandani, a co-panellist at the same summit, said affordable housing does not exist in Mumbai and that the cost of land, construction, development and government charges could have consequences well beyond the real estate sector. His figures on the share of sale price going to government were his own claim and have not been independently checked.

Metro 13 may affect rental and resale markets along its route, according to a real estate report on the line.

What comes next

As of 3 November 2026, no government policy change in response to Lodha's call has been announced.

• Metro 13: the Chief Minister has directed officials to complete land acquisition and approach-road works within six months, a direction reported on 19 August 2026. Land acquisition and rehabilitation spending is estimated at ₹2,715 crore.
• Metro 13 completion is targeted within five years after the required approvals are received.
• Naigaon project: Realty Today reports the project is structured to be completed in three sales cycles, with full delivery targeted by 2029.
• HoABL: seven additional MMR sites are under exploration, with no start dates announced in the reporting.