The House of Abhinandan Lodha (HoABL) has partnered with Nitco, its subsidiary Nitco Realties, and promoter Vivek Talwar to develop a premium real estate project across land parcels located in Thal and Lonare in Alibaug, Raigad. The proposed development is expected to generate an estimated revenue of Rs 4,500 crore.
Under the joint development agreement, HoABL is projected to generate around Rs 3,000 crore in revenue over the next five years, while Nitco is expected to receive approximately Rs 1,500 crore. HoABL plans to invest nearly Rs 1,000 crore in the project, primarily towards construction and development activities.
The upcoming project will be spread across nearly 40 acres and will feature premium residential offerings, including apartments and townhouses. The development will also include a boutique luxury hotel under the Miros hospitality brand, creating an integrated residential and lifestyle destination in Alibaug.
This will mark HoABL’s second major project in Alibaug after Sol-de-Alibaug, a plotted and villa-based development introduced by the company. The latest project aims to expand the developer’s presence in the growing luxury housing segment of the region.
Commenting on the partnership, Abhinandan Lodha, Chairman of HoABL, said, “This joint venture represents an important step in our journey to create differentiated, high-quality destinations. By bringing together premium residential formats such as apartments and townhouses with a boutique hospitality offering, we aim to create an integrated development that delivers long-term value and a distinctive lifestyle experience.”
The project will be executed in multiple phases, with additional details regarding the exact location, residential configurations, development schedule and hospitality partner expected to be announced later.
Nitco stated that the agreement is subject to fulfilment of certain conditions, necessary statutory approvals and completion of definitive agreements between the parties.
Alibaug has witnessed increasing interest from luxury real estate developers and investors, emerging as a preferred second-home destination due to improved connectivity and infrastructure growth. The region has attracted several premium residential, villa and plotted development projects in recent years.
According to Housing.com, average property prices in Alibaug stood at around Rs 15,663 per square foot in August 2026, reflecting a year-on-year increase of 56.08 per cent. The strong demand for luxury properties is expected to further support Alibaug’s position as a high-growth real estate market near Mumbai.
Source: Business Standard
