ASK Property Fund to invest ₹210 cr in residential projects in Navi Mumbai

ASK Property Fund, part of the Blackstone-backed ASK group, will invest ₹210 crore in two Gami Group residential projects in Navi Mumbai, citing strong demand and infrastructure-led growth

ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, will invest ₹210 crore in two residential projects of Gami Group, located in Navi Mumbai.

 

One of the projects is located in CBD Belapur, spanning 2 acres, with two- and three-bedroom residences available to offer. Another project is located in the Ghansoli micro market, close to both Ghansoli station and Thane-Belapur Road.

 

Bhavin Jain, chief investment officer, ASK Property Fund, said, “This investment signifies ASK’s initial foray into the Navi Mumbai market, which has experienced considerable momentum due to significant infrastructure upgrades such as the Navi Mumbai International Airport and improved connectivity with Mumbai via Atal Setu. Both these projects represent a remarkable investment opportunity, given their prime locations within well-established catchment areas.”

 

Navi Mumbai’s residential market is witnessing steady, fundamentals-driven growth, with average prices rising 22.4 per cent from 2021 to 2025 (from ₹14,800 to ₹18,100 per square foot) and a measured 4 per cent year-on-year increase in 2024–25, according to RealX Stats by InvestoXpert.

 

Jain further added that planned allocation of land by the City and Industrial Development Corporation of Maharashtra (Cidco) for residential and commercial use, along with intracity connectivity, has boosted Navi Mumbai’s real estate market.

 

Ambalal Gami, founder of Gami Group, believes that both projects have appealing configurations and ticket sizes to cater to buyer preferences. Gami Group is a Navi Mumbai-based real estate developer with 3.7 million square feet (msf) of completed, 7.6 msf of ongoing, and 5.4 msf of upcoming developments.

 

Recently, ASK Property Fund announced an investment of ₹340 crore in a portfolio comprising three residential projects spearheaded by Pune-based Mantra Group.

 

ASK Property Fund is the alternate asset investment arm of the ASK group, set up to manage and advise real estate dedicated funds, focusing on private equity investments in the self-liquidating residential segment. ASK PIA has raised over ₹8,700 crore since 2009, and investors include family offices, High Net Worth Individuals (HNIs), ultra-HNIs, and institutions.