 "HoABL, Mittal Builders to co-develop ₹2,000-cr township in Naigaon")
Mumbai-based The House of Abhinandan Lodha (HoABL) and Mittal Builders have entered into a joint development agreement (JDA) to co-develop an integrated township with an investment of ₹2,000 crore in Naigaon in the Mumbai Metropolitan Region (MMR).
The township is expected to be launched in the second quarter of the financial year 2026. The gross development value (GDV) of the project is pegged at around ₹3,000 crore. The township will be delivered in phases over five years.
The large-format township, spanning an area of 3 million square feet (msf), will comprise high-rise residential towers with over 4,600 apartments and high-street retail. The land is owned by Mittal Builders.
Rahul Mittal, Promoter, Mittal Builders, said: “Naigaon is fast emerging as a key growth centre in the MMR, and our vision has been to lead its transformation through planned, self-sustained infrastructure. We have developed core civic amenities such as internal roads, drainage systems, and more, laying the foundation for a future-ready township.”
Mittal Builders has 70 acres of land in Naigaon with 6.5 msf of development potential and a projected GDV exceeding ₹8,000 crore.
Rakesh Pai, Chief Operating Officer, The House of Abhinandan Lodha, said: “The partnership between HoABL and Mittal Builders underscores our shared commitment to creating exceptional developments that truly resonate with the aspirations of today’s discerning homebuyers. Our focus is on serving a broad community of buyers who value a seamless blend of comfort, reliability, and long-term value in their homes.”
The development is expected to benefit from the upcoming Metro Line 13 extension (Mira-Bhayandar to Virar), the proposed Vasai–Virar–Panvel rail corridor, and feeder access to the Mumbai–Delhi Expressway, the company claimed.
Driven by improving infrastructure, high commuter connectivity, and rising affordability pressures in core Mumbai, Naigaon is emerging as a high-potential corridor for residential development, the company added.
Besides, HoABL announced its entry into the vertical real estate sector (high-rise buildings) with an investment of ₹2,500 crore in April, after operating in the horizontal real estate sector since its inception.