The paper focuses on the application of TODIM (TOmada de Decisao Interativa Multicriterio), which means in Portuguese ‘interactive and multi-criteria decision making’) method in identify-ing the most attractive and affordable under-construction housing project in the city of Kolkata in India. In this decision making problem, 14 under-construction housing projects spanning in and around Kolkata are evaluated with respect to ten important criteria. The deployment of TODIM method can well be validated with respect to its ability to deal with both qualitative and quantitative criteria in the presence of risk factors. This method is also acknowledged to be a robust tool being almost unaffected by the varying values of the attenuation factor of losses. Using TODIM method, an under-construction housing project at Rajarhat in the eastern fringes of Kolkata city is selected as the optimal choice while meeting the requirements of investors, inhabitants and other stakeholders.