ASK Property Fund Invests ₹210 Crore in Navi Mumbai's Promising Residential Projects
ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, will invest ₹210 crore in two residential projects of Gami Group, located in Navi Mumbai. This strategic investment marks ASK Property Fund's entry into the burgeoning real estate market of Navi Mumbai, a region experiencing robust growth due to significant infrastructure developments.
One of the projects is situated in CBD Belapur, spanning 2 acres, and will offer two- and three-bedroom residences. The other project is located in the Ghansoli micro market, conveniently close to Ghansoli station and Thane-Belapur Road. Both locations are known for their connectivity and infrastructure, making them highly attractive for residential investments.
Bhavin Jain, Chief Investment Officer of ASK Property Fund, stated, “This investment signifies ASK’s initial foray into the Navi Mumbai market, which has experienced considerable momentum due to significant infrastructure upgrades such as the Navi Mumbai International Airport and improved connectivity with Mumbai via Atal Setu. Both these projects represent a remarkable investment opportunity, given their prime locations within well-established catchment areas.”
Navi Mumbai’s residential market is witnessing steady, fundamentals-driven growth. According to RealX Stats by InvestoXpert, average housing prices in the region have risen by 22.4 per cent from 2021 to 2025, from ₹14,800 to ₹18,100 per square foot. There has been a measured 4 per cent year-on-year increase in 2024–25. Jain further added that the planned allocation of land by the City and Industrial Development Corporation of Maharashtra (Cidco) for residential and commercial use, along with intracity connectivity, has significantly boosted the real estate market.
Ambalal Gami, founder of Gami Group, expressed confidence in the appeal of both projects. “Both projects have appealing configurations and ticket sizes to cater to buyer preferences,” he said. Gami Group, a prominent real estate developer in Navi Mumbai, has completed 3.7 million square feet (msf) of development, with 7.6 msf currently ongoing and 5.4 msf in the pipeline.
Recently, ASK Property Fund announced an investment of ₹340 crore in a portfolio comprising three residential projects spearheaded by Pune-based Mantra Group. This investment further solidifies ASK Property Fund's commitment to the residential real estate sector and its focus on high-potential markets.
ASK Property Fund is the alternate asset investment arm of the ASK group, established to manage and advise real estate dedicated funds. The fund focuses on private equity investments in the self-liquidating residential segment. Since its inception in 2009, ASK Property Fund has raised over ₹8,700 crore, with investors including family offices, High Net Worth Individuals (HNIs), ultra-HNIs, and institutions.
