ASK Property Fund Invests ₹210 Crore in Navi Mumbai’s Promising Residential Projects

ASK Property Fund has announced a significant investment of ₹210 crore in partnership with Gami Group to develop two residential projects in Navi Mumbai, specifically in CBD Belapur and Ghansoli. This strategic move underscores the growing confidence in Navi Mumbai’s real estate market, driven by upcoming infrastructure projects and the region’s proximity to key business and industrial zones.

The Belapur project, spanning nearly two acres at Parsik Hill, will offer 2 and 3 BHK apartments. This development is expected to attract homebuyers looking for modern, well-connected living spaces. The Ghansoli project, situated close to the local railway station and Thane-Belapur Road, will benefit from its proximity to industrial zones and IT parks, making it an attractive option for professionals and families alike.

Bhavin Jain, Chief Investment Officer of ASK Property Fund, emphasized the strategic rationale behind this investment. “Our investment in Navi Mumbai reflects confidence in the city’s evolving infrastructure, including the Navi Mumbai International Airport and the Atal Setu bridge connecting it to Mumbai. CIDCO’s land allocation plans for residential and commercial use further enhance the region’s growth potential,” he stated.

Ambalal Gami, Founder of Gami Group, expressed enthusiasm about the partnership. “This collaboration with ASK Property Fund marks a new chapter for Gami Group. Over the past 25 years, we have delivered projects to more than 3,800 families across 30 completed developments,” he said.

ASK Property Fund, a real estate fund backed by Blackstone through ASK Asset & Wealth Management Group, has a strong track record in private equity residential real estate. Since 2009, the fund has mobilized over ₹8,700 crore, and the larger ASK Group has an asset under management portfolio of over ₹82,000 crore as of December 31, 2025.

Navi Mumbai is rapidly becoming a preferred location for residential real estate due to better connectivity and various infrastructure projects. According to Cushman & Wakefield’s MARKETBEAT RESIDENTIAL Q4 2025 report, the Extended Eastern Suburbs submarket recorded the highest number of new launches of 4,186 units in Q4 2025, capturing a share of approximately 27% of the city's total launches. This was followed by the Eastern Suburbs, which saw new launches of 2,711 units, accounting for about 17% share. Navi Mumbai, Extended Western Suburbs, and Western Suburbs had nearly equal shares of approximately 14% each. The South Central submarket accounted for about 10% share with 1,520 units.

Through this investment, ASK Property Fund aims to capitalize on the increasing demand for quality housing in Navi Mumbai while providing developers with the necessary capital to execute large-scale projects efficiently. This partnership also exemplifies the trend of institutional investors entering the residential real estate market in Tier-II and satellite cities of Mumbai.

Gami Group and ASK Property Fund are poised to leverage their combined expertise in development, planning, and investment management to deliver top-notch housing projects in Navi Mumbai. This move positions ASK Property Fund as a major investor in the region and highlights Navi Mumbai as a burgeoning residential real estate growth corridor in India.

As both projects are set to commence soon, the collaboration between Gami Group and ASK Property Fund is expected to set new standards in the local real estate market, offering residents high-quality, well-connected living options.