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Peninsula land acquires land parcels in Alibaug and Karjat for residential projects

#Builders & Projects#Residential#India#Maharashtra
Last Updated : 13th Jul, 2025
Synopsis

Peninsula Land Ltd. has acquired 28 acres of land in Alibaug and 3.5 acres in Karjat, Maharashtra, for residential developments, expecting to generate a combined revenue of INR 1,500 crore. These acquisitions align with the company's strategy to expand its land bank in key Mumbai Metropolitan Region (MMR) peripheral locations. The move capitalizes on the growing demand for second homes and plotted developments in these popular weekend destinations. The company aims to develop projects in high-growth corridors, building on recent acquisitions like 55 acres in Panvel.

Peninsula Land Ltd., a real estate company, has recently acquired two land parcels in Maharashtra. These acquisitions, in Alibaug and Karjat, are for developing new residential projects as part of its strategy to expand its land holdings in peripheral locations within the Mumbai Metropolitan Region (MMR).


Peninsula Land Ltd. has acquired 28 acres of land in Alibaug and 3.5 acres in Karjat, both located in Maharashtra's Raigad district. The company expects to generate a combined revenue of INR 1,500 crore from these two residential projects. These acquisitions align with Peninsula Land's strategy to increase its land bank in peripheral locations within the Mumbai Metropolitan Region.

The company is focusing on developing projects in high-growth corridors. Both Alibaug and Karjat are popular weekend destinations and have seen increasing interest for second homes due to improved connectivity and infrastructure. They offer a mix of natural beauty and urban accessibility, attracting buyers interested in weekend homes or investment properties.

Peninsula Land is part of the Ashok Piramal Group. The company has been actively acquiring land in recent years. For instance, in 2023, it acquired 55 acres in Panvel, Navi Mumbai, for a plotted development with a Gross Development Value (GDV) of INR 500 crore and a potential for 1.5 million square feet of development. Acquiring land in emerging residential and second-home markets is a common strategy for real estate developers to cater to evolving buyer preferences and capitalize on infrastructure-led growth in urban peripheries.

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