The House of Abhinandan Lodha Estate Holdings Pvt Ltd. (HoABL), through its wholly-owned subsidiary HoABL Impactum Land Pvt Ltd (HoABL Impactum), has entered into a memorandum of understanding with NITCO Limited, its wholly-owned subsidiary NITCO Realties Pvt. Ltd., and promoter Vivek Talwar for the development of land parcels at Thal and Lonare in Alibaug, Raigad.

The proposed joint development is expected to generate Rs 3000 crore in revenue over five years for HoABL and 1500 crores for NITCO.

HoABL, under this strategic joint venture, is set to develop a premium multi-development project, comprising of luxury apartments and townhouses, over 40 acres of land parcel at Alibaug further strengthening its presence in the high-value residential real estate segment.

It would be HoABL’s 2nd project at Alibaug after Sol-de-Alibaug, where the gentry has been “crème de la crème”.

The development is expected to be designed by global architects and partners as an integrated, premium destination offering a combination of high-quality residences, curated amenities and hospitality.

A boutique luxury hotel, proposed to be operated under Miros, is expected to complement the residential development and create a differentiated lifestyle experience for residents and visitors.

The project marks HoABL’s continued evolution from a branded land developer into a broader real estate platform, with a focus on creating differentiated destinations across residential and hospitality formats.

Speaking about the partnership, Abhinandan Lodha, Chairman, The House of Abhinandan Lodha, 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. HoABL envisages an investment of Rs 1,000 crores largely towards construction.

According to NITCO, the transaction remains subject to conditions precedent, statutory approvals, and execution of definitive agreements. Importantly, NITCO has clarified that HoABL Impactum is not related to NITCO’s promoter group and the transaction does not constitute a related-party transaction.