Peninsula Land Acquires 40 Acres in Alibaug and Karjat for Upcoming Plotted Projects

Peninsula Land Ltd., part of the Ashok Piramal Group, has acquired 40 acres of land across Alibaug and Karjat, two rapidly emerging micro-markets near Mumbai. The company announced that this land will be used for premium plotted development projects, with launches planned around the upcoming festive season.

According to a statement by the company, it has purchased 11 acres in Sogaon, Alibaug, and 29 acres in Bhilawale, Karjat. These acquisitions mark the first investment under its ₹765 crore real estate platform, which was launched recently in partnership with Alpha Alternatives and Delta Corp.

The development is part of a broader strategy to expand Peninsula Land’s portfolio beyond Mumbai’s core market and into locations that are witnessing increased interest due to improving connectivity and growing demand for second homes and land parcels near urban centers.

With this move, Peninsula joins a list of developers who have already established or announced projects in the Alibaug-Karjat belt. These include Lodha, Oberoi Realty, Mahindra Lifespaces, Hiranandani Communities, House of Abhinandan Lodha (HoABL), and others, who have entered the region with either villa, plotted development, or branded land projects.

The company stated that the upcoming developments will be designed as premium plotted layouts, offering modern infrastructure, gated access, and amenities designed for weekend living or investment-led land ownership. These will target non-resident Indians, domestic investors, urban families, and others seeking lifestyle-driven property near Mumbai. Peninsula Land said it expects these projects to cater to long-term buyers looking for second homes, land banking opportunities, or custom-built homes in a managed environment.

The Alibaug and Karjat regions have seen a noticeable increase in developer interest over the last few years. This is largely attributed to infrastructure projects such as the Mumbai Trans Harbour Link (MTHL), improved ferry connectivity from South Mumbai to Alibaug, and road upgrades linking Karjat to Navi Mumbai and Pune.

Land values in both regions have also appreciated steadily, driven by increased investor interest, improved accessibility, and the relative affordability compared to city-based land parcels. The plotted development model allows buyers more flexibility in constructing homes as per their preferences while offering developers quicker turnaround compared to full-scale residential developments.

However, this pace of expansion is not without challenges. The Hindustan Times report noted that local residents and environmental groups have raised concerns regarding the unregulated growth in Alibaug, particularly as more developers enter with high-end and large-scale projects. The introduction of regulatory relaxations that allow high-rises, luxury resorts, and township development is seen as a threat to the area's coastal and ecological profile.

Alibaug, traditionally known for its quiet beaches and small-scale tourism, has been undergoing a transformation as new infrastructure brings it within faster reach of Mumbai’s working population. Karjat, on the other hand, has historically attracted second-home buyers due to its accessibility from both Mumbai and Pune and availability of larger land parcels.

Peninsula Land’s entry into these markets further consolidates the trend of plotted land becoming a preferred format for both developers and individual buyers. This trend is reshaping the housing landscape in peri-urban regions around Mumbai, offering developers a scalable and capital-efficient product while responding to evolving buyer preferences.

The company is expected to announce project details, pricing, and phasing closer to the launch timeline in the festive season later in 2025.