The House of Abhinandan Lodha enters into MoU with NITCO

The House of Abhinandan Lodha Estate Holdings (HoABL), through its wholly owned subsidiary HoABL Impactum Land (HoABL Impactum), has entered into a Memorandum of Understanding with NITCO, its wholly owned subsidiary NITCO Realties, 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 Rs 1500 crore 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 ?cr?me de la cr?me?.