Hiranandani launches ₹5,000-cr coastal township in Alibaug, eyes ₹17k cr

Hiranandani Communities has launched a 225-acre coastal township in Alibaug with an investment of Rs 5,000 crore and revenue potential of Rs 17,000 crore over 10 years

Mumbai-based Hiranandani Communities has launched a 225-acre integrated coastal township in Alibaug, Raigad district, with an investment of about Rs 5,000 crore and revenue potential of Rs 17,000 crore.

 

The company has begun work on the first phase of the township, which comprises three towers and 330 units spanning 3.35 lakh sq ft. The phase is expected to generate Rs 450 crore in revenue.

 

The first phase includes studio, 1-BHK, 2-BHK and 3-BHK apartments priced between Rs 80 lakh and Rs 2.85 crore. The project was sold out within three days of its announcement and is likely to be delivered by 2028.

 

In subsequent phases, the company will offer branded serviced apartments, plots, villas, a convention centre, water sports facilities, a jetty and retail developments. The entire township is planned for delivery within 10 years.

 

In addition, the company will partner with global and Indian hospitality brands to develop five hotels in the region, targeted for completion within five years.

 

“Hiranandani Sands is envisioned as a catalyst for Alibaug’s real estate transformation, supported by improving last-mile connectivity and year-round access via sea, road, rail and air. Upcoming mega infrastructure projects will further strengthen links from Mumbai, MMR and Navi Mumbai, positioning Alibaug as tomorrow’s preferred first-home destination. With rising demand for luxury homes, the township will appeal to domestic and NRI investors, HNIs and UHNIs seeking premium coastal living, further supported by Integrated Township Project (ITP) incentives such as a 50 per cent stamp duty concession,” said Dr Niranjan Hiranandani, Founder and Managing Director, Hiranandani Communities.

 

For the Alibaug project, the company is banking on upcoming connectivity upgrades, including the extension of the Ro-Ro ferry from Mumbai’s Ferry Wharf to Revdanda, the proposed Radio Club Jetty at Colaba, the Karanje–Rewas Sea Bridge, the Virar–Alibaug Multimodal Corridor, Atal Setu and the Navi Mumbai International Airport. These projects are expected to boost footfalls and investments, positioning Alibaug as a major growth corridor across the Mumbai harbour, the company said.

 

According to Magicbricks, residential property prices in Alibaug rose 13.8 per cent year-on-year in 2024 to an average of Rs 9,860 per sq ft. In the same year, over 13 per cent of Alibaug’s residential supply was priced above Rs 3 crore, compared with 23 per cent in 2023.