HoABL to invest ₹3,000 crore in land projects across six cities, with plans to launch 5,500 plots by 2024 and make Grade-A land ownership accessible in India.
HoABL Expands to Six New Cities with a ₹3,000 Crore Investment
Mumbai-based real estate developer, The House of Abhinandan Lodha (HoABL), has announced a major expansion, earmarking ₹3,000 crore for developing plots in six new cities: Amritsar, Vrindavan, Varanasi, Shimla, Nagpur, and Khopoli near Mumbai. This latest move follows HoABL’s notable Ayodhya project, which gained widespread attention after the Ram temple consecration. HoABL expects the land acquisitions, totaling 352 acres, to generate around $1 billion in revenue from these six cities alone.
Land Acquisitions and Upcoming Projects
The company has acquired substantial land across these cities, including over 100 acres in Nagpur, 75 acres in Varanasi, 60 acres in Vrindavan, 50 acres in Khopoli, 45 acres in Amritsar, and 11 acres in Shimla’s Mashobra. HoABL aims to develop approximately 5,500 residential plots across these areas by June 2024. Founder Abhinandan Lodha shared that close to half of the ₹3,000 crore investment has been used to purchase the land, with the remaining funds allocated for development. This expansion will be financed through HoABL’s internal resources and a partnership platform with HDFC Capital.
Market Demand and Strategic Growth
Post-pandemic demand for residential plots has been robust, as evidenced by HoABL’s rapid project sales. Many celebrities, including Amitabh Bachchan and Kriti Sanon, have purchased plots in the company’s developments, which often sell out within weeks. The customer base spans all ages, with buyers ranging from 18 to 81 years old. With an ambitious plan to extend its presence into 48 cities, HoABL is strategically acquiring land in 32 additional cities known for cultural and tourism value. Since its inception less than four years ago, the company has developed over 150 acres and has an additional 700 acres under development across Maharashtra, Goa, and Ayodhya.
New Office in Gurugram and Vision for Land Ownership
As part of its national expansion, HoABL recently opened a new office in DLF Cyber City, Gurugram, to manage its growing portfolio. This office will serve as a central hub for acquisitions, project deliveries, and expanding Grade-A land ownership. Founder Abhinandan Lodha emphasized the company’s vision of transforming land into a growth-oriented investment, seeing it as a long-term asset that supports community empowerment. Lodha stated that HoABL’s mission is to make premium land ownership secure, accessible, and a key driver of wealth generation for future generations.
Project Deliveries and Strategic Investments
By December 2024, HoABL plans to deliver 180 acres, or nearly 5 million sq ft, to 2,000 customers in Maharashtra’s Anjarle and Neral, with further deliveries expected in Dapoli, Alibaug, Ayodhya, and Goa over the next 10-12 months. HoABL has invested close to ₹3,000 crore in Uttar Pradesh, including ₹1,200 crore specifically in Ayodhya. One key Ayodhya project, The Sarayu, spans 75 acres and will feature India’s first all-vegetarian five-star hotel, managed by The Leela. This development is expected to generate over ₹150 crore in stamp duty revenue, surpassing the region’s total stamp duty collection from the previous year.
Diverse and Expanding Customer Base
Despite conducting customer interactions entirely online, HoABL has built a substantial client base. Out of over 6,000 customers, 17% are NRIs from 20 countries, primarily the USA, UAE, and Singapore, while the remaining 83% are domestic buyers from 150 cities in India. The company noted that over half of its Goa project buyers are from the NCR region, highlighting HoABL’s broad appeal across both domestic and international markets.
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