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Hindustan Times
11-07-2025
- Business
- Hindustan Times
HoABL and Mittal Builders partner for a township project in Naigaon near Mumbai, having ₹3,000 crore potential
The House of Abhinandan Lodha (HoABL) and Mittal Builders have inked a joint development agreement (JDA) to co-develop a three million sq ft integrated township project in Naigaon, near Mumbai. The House of Abhinandan Lodha (HoABL) and Mittal Builders have inked a joint development agreement (JDA) to co-develop a three million sq ft integrated township project in Naigaon. (Picture for representational purposes only)(Mehul R Thakkar/HT) The company announced that the project will include the construction of 4,600 apartments along with high street retail space. It is scheduled to launch in the current quarter (Q2 FY26) and entails an investment of ₹2,000 crore. The project is expected to achieve a Gross Development Value (GDV) of ₹3,000 crore over the next three to five years. In a joint statement, the companies said that the development will be delivered in phases over five years. This joint venture (JV) marks a significant milestone in the ongoing partnership between Mittal Builders and HoABL, which was announced earlier this year, it said. According to the statement, Mittal Builders has a 70-acre landholding in Naigaon with a potential of 6.5 million sq ft and a projected GDV exceeding ₹8,000 crore. Trustcap, a Mumbai-based investment bank, acted as the sole financial advisor for the transaction. Also Read: HoABL forays into Mumbai's real estate market with the launch of three vertical projects, to invest ₹2500 crore Rakesh Pai, Chief Operating Officer of The HoABL, 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." Together, we aim to deliver thoughtfully planned townships that prioritise quality construction, timely delivery, and a premium lifestyle. 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, Pai said. According to the statement, the project is located within 2 km of Naigaon railway station on the suburban western railway line. The statement said the development will also 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. Also Read: Abhinandan Lodha-led Lodha Ventures rebrands as Abhinandan Ventures 'Our commitment to Naigaon goes beyond real estate as we are building a thriving community. With 2 million sq ft of delivered residential space housing over 2,000 families, and a school educating more than 2,500 students in Naigaon, we have already enabled a strong residential and social ecosystem," said, Akshay Mittal, promoter, Mittal Builders. Also Read: Prestige Group buys 22,135 sq m of land in Mumbai for ₹291.6 crore "This next phase, in partnership with HoABL, will mark the beginning of a long-term partnership focused on creating large-scale, high-quality real estate developments in the region and beyond," Mittal said.
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Business Standard
10-07-2025
- Business
- Business Standard
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.
