HOABL NITCO ALIBAUG DEVELOPMENT (THAL-LONARE) — New Project Coming Up in Thal-Lonare, Alibaug
Strategic Partnership Announced for Thal-Lonare Development
The House of Abhinandan Lodha Estate Holdings, through its wholly owned subsidiary HoABL Impactum Land, has entered into a Memorandum of Understanding with NITCO, its wholly owned subsidiary NITCO Realties, and promoter Vivek Talwar for the development of land parcels at Thal and Lonare in Alibaug, Raigad. The strategic joint venture is set to develop a premium multi-development project, comprising of luxury apartments and townhouses, over 40 acres of land parcel at Alibaug further strengthening its presence in the high-value residential real estate segment.
Project Scope and Mixed-Use Configuration
The mixed-use project will include apartments, townhouses and a luxury hotel across 40 acres. The development 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.
Investment and Revenue Outlook
HoABL envisages an investment of Rs 1,000 crore largely towards construction. The proposed joint development is expected to generate Rs 3000 crore in revenue over five years for HoABL and Rs 1500 crore for NITCO. NITCO has received a cheque for Rs 9 crore as a security deposit from its partner.
HoABL's Expansion in Alibaug
The 40-acre development will be the second project for the company in Alibag, which has been witnessing a spurt in luxury projects in the last few years due to its proximity to the financial capital. The company had earlier developed a 20-acre land parcel. HoABL is an Indian real estate company headquartered in Mumbai, Maharashtra. Founded in 2020 by Abhinandan Lodha, the company develops residential plotted land projects. As of 2024, it reported operations across 16 locations in India, including Goa, Himachal Pradesh, Maharashtra, Punjab, and Uttar Pradesh.
Market Context: Alibaug's Emergence as Luxury Destination
Alibaug has emerged as a sought-after luxury real estate destination and a preferred second-home market for developers and investors, driven by improvements in connectivity infrastructure. Average property prices in Alibaug were around Rs 15,663 per square foot as of August 2026, up 56.08 per cent year-on-year, according to proptech platform Housing.com. The region's coastal Konkan setting, combined with proximity to Mumbai and infrastructure improvements, has attracted significant developer interest in recent years.
Transaction Status
The transaction remains subject to conditions precedent, statutory approvals and execution of definitive agreements.