HoABL, Nitco tie up for ₹4,500 crore Alibaug real estate project

The 40-acre development will comprise apartments, townhouses and a boutique luxury hotel, with HoABL expected to invest around ₹1,000 crore

The House of Abhinandan Lodha (HoABL) has entered into a memorandum of understanding (MoU) with Nitco, its wholly owned subsidiary Nitco Realties, and promoter Vivek Talwar for the development of land parcels at Thal and Lonare in Alibaug, Raigad, which is estimated to generate combined revenue of ₹4,500 crore.

 

The proposed joint development is expected to generate ₹3,000 crore in revenue over five years for HoABL and ₹1,500 crore for Nitco. HoABL expects to invest around ₹1,000 crore in the project, largely towards construction.

 

HoABL is a Mumbai-based land developer, while Nitco is a floor and wall solutions manufacturer.

   

HoABL will develop the “premium project”, as the company describes it, comprising apartments and townhouses across a 40-acre land parcel. It will be HoABL’s second project in Alibaug after Sol-de-Alibaug, a plotted and villa development by the company.

 

The project under the HoABL-Nitco joint venture is also proposed to have a boutique luxury hotel to be operated under Miros.

 

Abhinandan Lodha, chairman of HoABL, said: “This joint venture represents an important step in our journey to create differentiated, high-quality destinations. By bringing together premium residential formats such as apartments and townhouses with a boutique hospitality offering, we aim to create an integrated development that delivers long-term value and a distinctive lifestyle experience.”

 

The project is expected to be developed in phases, with further details on the location, configuration, project timeline and hospitality partner to be announced in due course.

 

According to Nitco, the transaction remains subject to conditions precedent, statutory approvals and execution of definitive agreements.

 

Alibaug has emerged as a sought-after luxury real estate destination and a preferred second-home market for developers and investors, driven by improvements in connectivity infrastructure.

 

Several established real estate developers have entered the Alibaug market through premium residential projects, plotted developments and villas.

 

Average property prices in Alibaug were around ₹15,663 per square foot as of August 2026, up 56.08 per cent year-on-year, according to proptech platform Housing.com.