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House of Abhinandan Lodha (HoABL) has entered into a joint development arrangement with an arm of tile manufacturer NITCO and its promoter Vivek Talwar to develop a 40-acre mixed-use project in Alibag. The project, spread across land parcels in Thal and Lonare, will comprise apartments, townhouses and a luxury hotel. HoABL plans to invest around INR 1,000 crore, primarily towards construction. The development is expected to generate revenue of around INR 3,000 crore for HoABL and up to INR 1,500 crore for NITCO over five years.
Mumbai-based real estate developer House of Abhinandan Lodha (HoABL) is set to expand its presence in Alibag through a joint development project with an arm of tile manufacturer NITCO and its promoter Vivek Talwar. The proposed 40-acre mixed-use development will combine residential and hospitality components, with apartments, townhouses and a luxury hotel planned across two land parcels in Thal and Lonare.
HoABL plans to invest approximately INR 1,000 crore in the project, with the majority of the capital expected to be deployed towards construction. The development will be implemented in phases, while details such as construction schedules and the hospitality partner are expected to be announced at a later stage.
According to the company, the project could generate revenue of around INR 3,000 crore for HoABL over a five-year period. NITCO is expected to earn up to INR 1,500 crore from the development, indicating the scale of the partnership and the anticipated demand for premium real estate in the Alibag market.
The project marks HoABL's second development in Alibag, a market that has gained prominence among luxury homebuyers and developers because of its proximity to Mumbai and improving regional connectivity. The company had previously developed a 20-acre land parcel in the area, and the latest project will further increase its exposure to the coastal destination.
The joint development arrangement covers land parcels located at Thal and Lonare. The proposed mix of apartments, townhouses and hospitality facilities is aimed at creating an integrated development rather than a purely residential project. The inclusion of a luxury hotel could also strengthen the project's appeal as a second-home and leisure destination.
NITCO, meanwhile, has disclosed that it received a cheque of INR 9 crore as a security deposit from its development partner. The arrangement provides NITCO with an opportunity to monetise its land assets through a large-scale development while HoABL gains access to additional land in one of the Mumbai region's emerging premium real estate destinations.
Alibag has seen increased interest from developers as buyers look beyond established Mumbai suburbs for larger homes, second residences and lifestyle-oriented developments. Improved accessibility from Mumbai and the area's established tourism profile have supported demand for premium housing and hospitality projects.
For HoABL, the project adds to its strategy of developing large land parcels through residential and mixed-use formats. The company's investment of INR 1,000 crore is expected to be deployed over the construction phases, with revenue generation spread across the projected five-year period.
The partnership also reflects the growing preference among developers and landowners for joint development models, which allow land assets to be developed without requiring the land-owning party to undertake the entire construction investment. For Alibag, the project could add another sizeable mixed-use development to its expanding premium real estate landscape.
The project is expected to progress in phases, with further information on execution timelines and the hospitality operator likely to emerge as planning advances. The proposed development will be closely watched as Alibag continues to attract investments targeting Mumbai's luxury residential and leisure real estate demand.
Source PTI
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