HoABL, NITCO Plan ₹4,500 Crore 40-Acre Alibaug Project

House of Abhinandan Lodha and NITCO have joined hands for a major 40-acre luxury real estate development in Alibaug.

The project will be developed across land parcels at Thal and Lonare in Raigad and is expected to have a revenue potential of approximately ₹4,500 crore over five years.

HoABL plans to invest around ₹1,000 crore in the development, with a large part of the investment expected to go towards construction.

The proposed mixed-use project will include luxury apartments, premium townhouses and a boutique luxury hotel, creating a combination of residential and hospitality development.

The hotel is proposed to operate under the Miros brand.

The development is expected to be undertaken in phases. Detailed residential configurations and the project timeline are yet to be announced.

The project will mark HoABL’s second major development in the Alibaug market after its Sol de Alibaug luxury plotted and villa development.

For Alibaug, the scale of the proposed development is another indication of the area's transition from a traditional weekend-home destination towards a larger premium residential market.

Improving connectivity with Mumbai, growing interest in second homes and the entry of established developers have increased the importance of Alibaug within the Mumbai Metropolitan Region’s broader luxury property landscape.

Sandeep Sadh’s Take:

“Alibaug is gradually moving beyond only plotted developments and standalone villas. Large integrated projects combining residences and hospitality can significantly strengthen its position as a premium second-home destination.”