The House of Abhinandan Lodha is expanding into 6 additional cities and investing ₹3000 crore in development projects.

By Bricksnwall | 2024-11-09

These land pieces are located in Amritsar, Vrindavan, Varanasi, Shimla, Nagpur, and Khapoli near Mumbai, with an income potential of $1 billion.

The House of Abhinandan Lodha (HoABL), a Mumbai-based real estate firm that rose to prominence after launching the first luxury plotted development project in Ayodhya shortly after the Ram temple consecration ceremony, has announced a ₹3,000 crore investment to expand its footprint in six new cities: Amritsar, Shimla Varanasi, Nagpur, Khopoli, and Vrindavan, on November 8.

The corporation has acquired 352 acres of land in six cities. The corporation stated that it had bought over 60 acres in Vrindavan, over 50 acres in Khapoli near Mumbai, 11 acres in Shimla's Mashobra, more than 100 acres in Nagpur, 75 acres in Varanasi, and approximately 45 acres in Amritsar.

"We're expanding into six more locations. We would invest ₹3,000 crore in these new cities. The company plans to introduce approximately 5,500 plots in these six new locations by June of next year," stated Abhinandan Lodha, founder of The House of Abhinandan Lodha.

"Almost half of the investment has been made to buy 352 acres of land, with the remainder going towards development costs. The company will fund investments through internal accruals and its platform with HDFC Capital, and it expects to generate $1 billion in revenue from planned development projects in these six locations," he told reporters.

According to Lodha, the demand for home plots has increased significantly since the outbreak.

Many celebrities, including Amitabh Bachchan and Kriti Sanon, have purchased plots in the company's projects, he said, adding that the projects sell out fully within weeks of their inception. ""The youngest investor is 18 years old, and the oldest is 81," he says.

Lodha elaborated on the expansion strategy, saying the company expects to launch projects in 48 cities throughout India that have high potential for planned development due to existing or impending infrastructure developments and the influx of tourists in these areas. "We are aiming to acquire land in the remaining 32 cities, which contain both cultural and tourist destinations," he told us.

Since its beginning less than four years ago, HoABL has delivered over 150 acres of new generation plotted property and has another 700 acres in development in six locations: Anjarle, Dapoli, Neral, and Alibaug in Maharashtra, Goa, and Ayodhya.

Opens new office in Gurugram.

In addition, the company has announced the creation of a new office in DLF Cyber City, Gurugram, as part of its national expansion. This new headquarters will act as a primary hub for handling the company's most recent purchases, project deliveries, and ambitious plans to make Grade-A land ownership more accessible to a wider audience.

"The launch of our new Gurgaon office is a watershed point in our endeavour to transform land ownership in India. This growth is more than just growing operations; it is about causing a paradigm shift in how Indians view land as an investment. We regard land as more than just a commodity; it's a driver of long-term progress and community empowerment," Lodha explained.

We have spent over ₹1,000 crores in strategic acquisitions in key growing locations, unlocking prime land for investors and making them into thriving destinations. ""Our vision is to make Grade-A land ownership accessible, secure, and a source of wealth creation for future generations," he said.

The company also plans to provide 180 acres, or approximately 5 million square feet, of development to over 2000 clients in Anjarle and Neral, Maharashtra, by December 2024. HoABL is also planning supplies in Dapoli and Alibaug, Maharashtra, Ayodhya, and Goa during the next 10-12 months.

The House of Abhinandan Lodha invested over ₹3,000 crore in Uttar Pradesh, including ₹1,200 crore for Ayodhya alone.. Over the last two years, HoABL has purchased 75 acres from 1,400 farmers for long-term community benefits. The Sarayu is a 75-acre luxury complex that houses India's first all-vegetarian five-star hotel, managed by The Leela.. The Sarayu project is projected to generate around ₹150 crore in stamp duty revenue.

exceeding the total stamp duty money received across the region the previous year.

Despite the fact that all client interactions are virtual and there are no actual encounters, 17% of its over 6,000 customers are NRIs from 20 countries, primarily the United States, the United Arab Emirates, and Singapore. The remaining 83% come from 150 towns across India. Surprisingly, more than half of the consumers in HoABL's Goa projects originated from the NCR region, the business revealed.

Source: Hindustan Times