Lodha Group to invest Rs 2,500 crore in MMR

New Delhi: Realty major Lodha Group will invest Rs 2,500 crore to develop three affordable housing projects in the Mumbai Metropolitan Region (MMR) in a price range of Rs 25-50 lakh per unit, its MD Abhishek Lodha said.

These three projects -- located at Thane, Bhiwandi and Taloja -- will be launched this financial year under a separate brand 'Crown', he said.

"We are launching three high-quality affordable housing projects at a well-connected locations with complete social ecosystem. Most of the units will be sold in a price bracket of Rs 25-50 lakh and only some at around Rs 75 lakh," it said.

The first project at Thane, spread over 10 acre comprising 2,800 units, will be launched on October 2. Lodha Group will develop 4,000 housing units at project in Taloja and 2,000 units in Bhiwandi.

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