Mumbai-based real estate firm, The House of Abhinandan Lodha (HoABL), announced a ₹3,000 crore investment on November 8, 2024, to broaden its footprint with plotted development projects in six new cities: Amritsar, Shimla, Varanasi, Nagpur, Khopoli, and Vrindavan.
This expansion follows the company’s successful launch of India’s first luxury plotted development in Ayodhya after the Ram temple consecration, as published by the Hindustan Times.
HoABL has secured 352 acres of land across the six cities, including more than 60 acres in Vrindavan, over 50 acres near Mumbai in Khopoli, 11 acres in Mashobra, Shimla, more than 100 acres in Nagpur, 75 acres in Varanasi, and approximately 45 acres in Amritsar. The company plans to launch about 5,500 plots across these areas by June 2025, with the funds split between land purchases and development costs.
HoABL’s investments are backed by internal accruals and a strategic partnership with HDFC Capital. Founder Abhinandan Lodha projects $1 billion in revenue from plotted development projects in these cities, anticipating strong demand for land as an asset.
Lodha noted increased interest in land investments, especially post-pandemic. Projects often sell out within weeks, attracting notable buyers such as Amitabh Bachchan and Kriti Sanon. The customer demographic ranges widely, with investors as young as 18 and as senior as 81.
HoABL aims to launch projects in 48 cities across India, strategically selecting locations with robust or emerging infrastructure and tourism appeal. In addition to the current six cities, the company is working to secure land in 32 more towns that offer cultural and tourism value.
Since its inception four years ago, HoABL has completed over 150 acres of new-generation plotted developments, with an additional 700 acres underway. Its current projects span Maharashtra in Anjarle, Dapoli, Neral, and Alibaug, as well as in Goa and Ayodhya. HoABL expects to deliver 180 acres, or nearly 5 million square feet, to more than 2,000 customers in Maharashtra by December 2024, with additional project completions in Ayodhya, Goa, Dapoli, and Alibaug anticipated over the next year.
As part of its strategic expansion, HoABL has inaugurated a new office in DLF Cyber City, Gurugram, to manage acquisitions and oversee its ambitious projects. According to Lodha, this move signifies a milestone in the company’s mission to transform perceptions of land ownership in India. HoABL’s strategy extends beyond scale, focusing on reshaping land as a secure investment that drives community growth.
HoABL has directed nearly ₹3,000 crore toward projects in Uttar Pradesh alone, with ₹1,200 crore invested in Ayodhya. Over the past two years, HoABL has acquired 75 acres from 1,400 farmers in Ayodhya, supporting long-term community benefits. A key project, The Sarayu, spans 75 acres and includes India’s first all-vegetarian five-star hotel, managed by The Leela. Expected to generate over ₹150 crore in stamp duty revenue, The Sarayu will surpass the region’s total stamp duty revenue from the previous year.
With a customer base of over 6,000, HoABL has executed all sales virtually, without physical interactions. Approximately 17% of its buyers are NRIs from 20 countries, notably the USA, UAE, and Singapore, while the remaining 83% hail from over 150 Indian towns. For projects in Goa, over half of the customers are based in the NCR region, highlighting the appeal of HoABL’s developments across diverse demographics.
This extensive investment and expansion by The House of Abhinandan Lodha reflect the company’s commitment to establishing Grade-A land ownership as a reliable and empowering investment choice across India.