HoABL and NITCO sign MoU for a 40-acre luxury project in Alibaug
Published
A 40-acre premium plan in Thal and Lonare
HoABL has signed a memorandum of understanding with NITCO Limited to develop a premium mixed-use project on about 40 acres of land spread across Thal and Lonare villages in Alibaug Taluka, Raigad district, Maharashtra. The MoU was signed on 24 August 2026 by HoABL Impactum Land Pvt Ltd, NITCO Limited, its wholly owned subsidiary NITCO Realties Pvt Ltd and promoter Vivek Talwar, who granted development rights over the identified land parcels.
The upcoming project is planned as a combination of luxury apartments, townhouses and a boutique luxury hotel proposed to operate under HoABL's Miros brand. The estimated development value is around ₹4,500 crore over five years, with HoABL's expected share at about ₹3,000 crore and NITCO's at about ₹1,500 crore.
What the agreement covers
Under the arrangement, HoABL will be responsible for development, construction and branding, while NITCO contributes the land. HoABL expects to invest around ₹1,000 crore, largely towards construction. A separate estimate places total capital expenditure close to ₹2,500 crore. The project will be developed in phases, and the owners have received a ₹9 crore security deposit by cheque as an initial commitment. NITCO has disclosed the transaction as not a related-party transaction, and its shares rose after the announcement.
The key figures for the project so far:
- Land: about 40 acres in Thal and Lonare villages, Alibaug Taluka
- Development value: about ₹4,500 crore over five years
- HoABL investment: about ₹1,000 crore, largely for construction
- Product: luxury apartments, townhouses and a boutique luxury hotel under the Miros brand
- Status: upcoming, at MoU stage
The price band, unit mix and carpet areas for the project are yet to be announced, as are the phase-wise launch dates. The project's details will be shared once the definitive agreements are in place. Buyers tracking the project can follow HoABL Thal Lonare Alibaug for updates.
Location and connectivity
Thal and Lonare sit in Alibaug Taluka, which is reached from Mumbai by sea, by road or through Navi Mumbai. The Atal Setu, a 21.8 km sea bridge opened in January 2024, links Sewri to Chirle and brings the road route from Mumbai to Alibaug to about 95 to 105 km, typically 2 to 2.5 hours. From central Navi Mumbai in Vashi or Belapur, the drive is about 60 to 70 km, or 1 to 1.25 hours.
The sea route runs from Gateway of India to Mandwa Jetty in 55 to 75 minutes by passenger ferry. From Mandwa Jetty, Thal and Kihim are roughly 10 to 17 km away, about 20 to 32 minutes by road, and Alibaug town is 18 to 20 km further. The Mumbai-Goa Highway (NH66) connects to SH 104 at Pen for the drive into Alibaug. Pen railway station is about 28 km from Alibaug, and Panvel station about 47 km. Navi Mumbai International Airport is around 40 km away, while Chhatrapati Shivaji Maharaj International Airport in Mumbai is about 120 km.
Mandwa Beach lies about 12 km from Alibaug town and Kihim Beach about 14 km, both known for their calm, tree-lined shorelines. Alibaug has no operating metro line yet.
Several corridors are under way in the wider region. The Virar-Alibaug Multimodal Corridor, a 126 km access-controlled expressway by MSRDC with a total cost of about ₹55,000 crore, is expected to be fully operational by 2030 and reserves a 26.5 m central median for Metro Line 14 and BRT. A Virar-Alibaug metro is at feasibility stage. The six-lane upgrade of NH66 is progressing in stretches through 2026-27, and a planned Karanja-Rewas Creek Bridge would create a direct Uran-Alibaug link after 2026.
Alibaug's average residential rate is about ₹9,860 per sq ft as of 2025, with appreciation of 13.8% recorded that year. Flat prices in the town ranged from ₹4,850 to ₹7,700 per sq ft as of April 2026, while NA plots in Thal and Mandwa are priced from ₹2,200 to ₹6,500 per sq ft or more.
About the developer
The House of Abhinandan Lodha (HoABL) was founded in 2020 by Abhinandan Lodha and is headquartered in Mumbai. The company develops plotted land projects and holds a portfolio of over 1,000 acres of plotted developments, with 13 million sq ft of land sold and a further 34 million sq ft in its development pipeline. It operates in 16 locations across India, including Goa, Himachal Pradesh, Maharashtra, Punjab and Uttar Pradesh.
HoABL has also entered Mumbai's vertical realty segment with about ₹2,500 crore committed across three projects in the Mumbai Metropolitan Region. In Alibaug, its earlier project is Sol de Alibaug, a 20-acre plotted and villa development in Munawali. The Thal and Lonare project would be HoABL's second in Alibaug and its first in the luxury apartment and hotel format.
What comes next
The next milestone is the execution of definitive agreements among the parties, which will follow the fulfilment of conditions precedent and receipt of the requisite statutory approvals. No date has been set for that step. Once the agreements are signed and the project moves ahead, the unit mix, pricing, phasing and launch timelines are expected to be announced by the developer.