Mumbai: Lakhotia Realty has sold more than 100 homes priced at around Rs 25 lakh each within five weeks of launching its GPS (Greater Panvel Superzone) project in Kewale, Panvel, according to the developer.
The rapid sales come at a time when India’s affordable housing segment is witnessing declining sales and shrinking supply.
Affordable Housing Bucks Wider Trend
At a Rs 25-lakh ticket size, an estimated Rs 20-lakh home loan could translate into an EMI of roughly Rs 17,000 per month, potentially putting ownership within reach of households earning Rs 50,000–60,000 monthly.
According to Knight Frank data cited by the company, sales of homes priced below Rs 50 lakh across India’s top eight residential markets declined 17 percent in 2025 to 73,694 units.
The segment’s share of overall housing sales has fallen sharply, while launches in the sub-Rs 50 lakh category declined 28 percent .
In contrast, homes priced above Rs 1 crore recorded 175,091 sales during 2025, rising 14 percent year-on-year and accounting for half of residential sales across the eight markets.
Is Supply The Bigger Problem?
Lakhotia Realty Founder and Director RM Lakhotia said the response challenges the perception that demand for genuinely affordable homes has disappeared.
“The demand exists, but viable supply does not,” he said, arguing that entry-level demand remains concentrated below Rs 50 lakh.
The company said rising land prices, approval expenses and construction costs have made delivering homes at these price points increasingly difficult.
Panvel Infrastructure Adds Momentum
The Kewale project is located within the wider Panvel-Navi Mumbai infrastructure belt, benefiting from connectivity to Navi Mumbai International Airport, Atal Setu and JNPT.
Planned developments including International EduCity and MediCity are also expected to strengthen the Ulwe-Panvel growth corridor.
Maharashtra’s Rs 31,793-crore Virar-Alibaug Multimodal Corridor and the Rs 2,782-crore Panvel-Karjat suburban rail project could further improve regional connectivity.
With over 100 buyers opting for Rs 25-lakh homes in five weeks, the Panvel project highlights a key question for India’s housing market: is affordable housing struggling because buyers have disappeared, or because genuinely affordable homes have become increasingly scarce?
