Alibaug’s exclusive property market opens up to mainstream luxury developments | Mint

Bengaluru: Alibaug, a charming coastal town near Mumbai, is seeing a surge in luxury property development as branded residences and high-end hotels target a broader range of buyers beyond celebrities and business tycoons.

Once known for secluded villas of Mumbai’s elite, Alibaug is becoming more mainstream with several luxury gated communities coming up. These branded developments are targeted at both investors and end-users. 
 

Mumbai’s top two developers – Macrotech Developers Ltd (‘Lodha’) and Oberoi Realty Ltd are gearing up to launch their first projects in Alibaug. Macrotech is planning to develop a 100-acre project that will have sky villas or duplexes, townhouses and a 7-star hotel, said two people familiar with the plans. 
 

“The project ‘Lodha Alibaug’ is loosely based on the French riviera theme, and will come up on a prime location. It will have a private members’ club, with a lot of focus on gastronomy and fine dining,” said one of the two persons cited earlier, both of whom spoke anonymously. 

The sky villas or duplexes on the higher floors would broadly be priced at ₹25-27 crore onwards, and the townhouses cost around ₹40 crore. 
Oberoi Realty, known for its uber luxury projects, is in discussions to develop a Ritz Carlton hotel and fully serviced, branded luxury villas, with a restaurant that will be managed by the hospitality chain. The developer had signed an agreement for around 81 acres in Alibaug’s Tekali village last year. 
 

“The project designing is in progress. Oberoi Realty will build a sample villa before starting the sales process. It is aiming for a FY26 launch,” said the second person. 
 

Spokespersons of Macrotech and Oberoi Realty didn’t respond to queries. 

“Alibaug has become an extension of south Mumbai. Anything associated with south Mumbai gets tremendous value attached to it. Many south Mumbai families own Alibaug homes since the 1990s, followed by movie stars and, more recently, sports personalities have made it their home away from home. Mumbai-based A grade developers have now entered this market, making it accessible to a larger customer base,” said Rati Shroff, assistant vice-president, luxury sales, at Anarock Property Consultants. 
 

Just like Goa, the Alibaug property market is also gaining steady interest from developers outside Maharashtra. 

Last year, Emaar India entered the Mumbai market with its first project in Alibaug. It launched ‘Casa Venero’, a premium project spread across 24 acres, with 84 villas priced at ₹8-15 crore. The USP of the project is a gated and exclusive community, over and above the farmhouse feel of villa with pool and private greens.
 

“Collectively, hundreds of acres of branded developments are underway in Alibaug. Given the good infrastructure and ease of accessibility, Alibaug will be a first home destination,” Shroff added. 

A luxury market in the making 

Mumbai-based Hiranandani Group plans to launch a 225-acre township ‘Hiranandani Sands’ in Nagaon. The township will be developed and launched in phases. The developer said it will offer hospitality-led products along with traditional real estate products such as villas, plots, and apartments. 
 

“It will be an ultra-premium project, poised to cater to both leisure seekers and end-users. With the introduction of Ro-Ro (ferry) services, Alibaug now offers seamless, year-round connectivity to Mumbai, making it an attractive destination not only for affluent second-home buyers but also for first-time homebuyers in the long term,” said Niranjan Hiranandani, chairman of Hiranandani Group.

In May, Avas Wellness, which counts cricketer Virat Kohli and businessman Adar Poonawalla as its clients, launched ‘Ananta by Avas’, a luxury project with four and five-bedroom villas.
 

“Avas Living, our first residential project launched in 2022, is now sold out,” said Aditya Kilachand, CEO and founder, Avas Wellness. 
 

Rising demand for Alibaug as a real estate market has also led to a surge in prices. 
 

‘Sol de Alibaug’, a plotted development project launched by the House of Abhinandan Lodha in April 2023, has seen a big spike in prices.
 

“Plot prices have risen from ₹6,650 per sq ft to ₹10,000 per sq ft currently. Increasing ease of connectivity from Mumbai has built a strong case for Alibaug as a destination- with the RoRo and Atal Setu playing a key role,” said a company spokesperson.   

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