The House of Abhinandan Lodha (HoABL) and Mittal Builders have signed a joint development agreement (JDA) to co-develop a three million sq ft integrated township project in Naigaon, near Mumbai. The project will feature 4,600 apartments and high street retail space, with an investment of ₹2,000 crore. Scheduled to launch in the current quarter (Q2 FY26), the project is expected to achieve a Gross Development Value (GDV) of ₹3,000 crore over the next three to five years.
The development will be delivered in phases over five years, marking a significant milestone in the ongoing partnership between Mittal Builders and HoABL. 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. The project is strategically located within 2 km of Naigaon railway station on the suburban western railway line and will benefit from the upcoming Metro Line 13 extension and the proposed Vasai-Virar-Panvel rail corridor.
Rakesh Pai, Chief Operating Officer of 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.”
Akshay Mittal, Promoter, Mittal Builders, added, “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. 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.”
Image Courtesy: Business Standard
