HoABL, NITCO Sign 1,000 Crore Pact for Alibag Project

House of Abhinandan Lodha partners with NITCO for a 40-acre Alibag project, investing ₹1,000 crore. The mixed-use development will feature apartments, townhouses and a luxury hotel, with combined revenue estimated at ₹4,500 crore over five years.

House of Abhinandan Lodha (HoABL) has partnered with NITCO and its promoter Vivek Talwar to develop a premium mixed-use real estate project in Alibag, Maharashtra. HoABL plans to invest around ₹1,000 crore, largely towards construction, in the 40-acre development. The project is expected to generate combined revenue of up to ₹4,500 crore over five years. 

Under the agreement, HoABL’s wholly owned subsidiary, HoABL Impactum Land, has signed a Memorandum of Understanding with NITCO and its wholly owned subsidiary NITCO Realties for land parcels located at Thal and Lonare in Raigad district. The proposed development will comprise premium apartments, townhouses and a boutique luxury hotel.

Also Read: 5 New Luxury Hotels Redefining Hospitality in India

HoABL expects the project to generate approximately ₹3,000 crore in revenue over five years, while NITCO could generate up to ₹1,500 crore. The development will be executed in phases, with the companies expected to announce details regarding the project configuration, construction timeline and hospitality partner at a later stage.

The planned hotel is proposed to operate under Miros, HoABL’s hospitality brand, adding a hospitality component to the residential development. The combination of luxury homes and branded hospitality is intended to create an integrated premium destination catering to both homebuyers and visitors.

For HoABL, the project marks its second development in Alibag. The company had earlier developed a 20-acre land parcel in the region through its Sol de Alibaug project. Alibag has increasingly emerged as a luxury residential and second-home destination because of its proximity to Mumbai and improving connectivity.

The partnership comes as developers increasingly expand into premium markets outside Mumbai, where demand for second homes, luxury residences and lifestyle-oriented developments continues to grow. Alibag’s connectivity with Mumbai has further strengthened its appeal among high-net-worth buyers and real estate investors.

The project also provides NITCO with an opportunity to unlock value from its land assets through a development partnership. For HoABL, the collaboration expands its portfolio beyond plotted developments into a larger mixed-use format combining residential and hospitality offerings.

Also Read: Why Branded Residences Are Redefining Luxury Housing in 2026

The transaction remains subject to applicable conditions, statutory approvals and the execution of definitive agreements. Once these requirements are completed, construction will proceed in phases.

With a planned investment of ₹1,000 crore and an estimated development value of ₹4,500 crore, the HoABL-NITCO project is set to add another large premium development to Alibag’s rapidly evolving real estate landscape.