HoABL Enters Joint Venture with NITCO for ₹4,500 Crore Premium Mixed-Use Development in Alibaug
Strategic Partnership for Alibaug Coastal Development
The House of Abhinandan Lodha (HoABL), through its wholly owned subsidiary HoABL Impactum Land, has signed a memorandum of understanding (MoU) with NITCO Limited, NITCO Realties, and promoter Vivek Talwar to jointly develop premium residential and hospitality real estate across 40 acres in Thal and Lonare villages, Alibaug, Raigad district. The strategic joint venture is set to develop a premium multi-development project comprising luxury apartments and townhouses over 40 acres of land parcel at Alibaug.
Revenue Breakdown and Financial Scale
The proposed joint development is expected to generate ₹3,000 crore in revenue over five years for HoABL and ₹1,500 crore for NITCO, totaling ₹4,500 crore combined. HoABL expects to invest around ₹1,000 crore in the project, largely towards construction.
Project Scope and Amenities
The development is expected to comprise a premium multi-development project with luxury apartments and townhouses, complemented by curated amenities and hospitality offerings, including a proposed boutique hotel. The boutique luxury hotel is proposed to be operated under Miros.
The project is expected to be developed in phases, with further details on the location, configuration, project timeline and hospitality partner to be announced in due course.
HoABL's Existing Alibaug Footprint
This is HoABL's second project in Alibaug after Sol-de-Alibaug, a plotted and villa development by the company. The developer has expanded beyond its core plotted land business into mixed-use and hospitality-anchored developments in coastal premium markets.
Market Context: Alibaug's Real Estate Growth
Average property prices in Alibaug were around ₹15,663 per square foot as of August 2026, up 56.08 per cent year-on-year, according to proptech platform Housing.com. The coastal town in Raigad district is positioned as a premium weekend and investment destination near Mumbai.
The Virar-Alibaug Corridor is a proposed 126-km multimodal transport corridor connecting Virar in Palghar district to Alibaug in Raigad district while improving connectivity across the Mumbai Metropolitan Region, infrastructure improvements expected to drive long-term property appreciation.
Transaction Status and Approvals
According to Nitco, the transaction remains subject to conditions precedent, statutory approvals and execution of definitive agreements.