Peninsula Land Acquires 40 Acres in Alibaug and Karjat, Plans Premium Plotted Development
Peninsula Land, a subsidiary of the Ashok Piramal Group, has purchased 40 acres of land in Alibaug and Karjat near Mumbai, marking the first deployment of capital from their new real estate platform. The company plans to launch premium plotted communities during the festive season.
Real EstateLand AcquisitionAlibaugKarjatPlotted DevelopmentReal Estate MumbaiJul 12, 2025
The acquisition includes 11 acres in Alibaug's Sogaon and 29 acres in Karjat's Bhilawale. Peninsula Land has joined a growing list of prominent developers, such as Lodha Developers, Oberoi Realty, Hiranandani Communities, Mahindra Lifespaces, House of Abhinandan Lodha (HoABL), Zen Group, Emaar, Alyf, Brego Land, and Earth Builders, who have already established a presence in the region.
The land purchases represent the first deployment of capital from Peninsula’s recently launched ₹765 crore real estate platform, an equity partnership with Alpha Alternatives and Delta Corp. According to Rajeev Piramal, CEO and managing director of Peninsula Land, 'This marks the first deployment of capital from our real estate platform and represents a focused commitment to growing our plotted development business.'
The upcoming projects in Alibaug and Karjat will be positioned as premium plotted communities, featuring modern infrastructure, curated amenities, and a secure living environment. The launch of these projects is expected to coincide with the festive season later this year. The target audience includes NRIs, domestic and outstation investors, second-home buyers, and urban families seeking long-term lifestyle upgrades or luxury holiday homes.
However, the scale and pace of development have raised concerns among local residents and environmentalists. Architect Pinakin Patel has been leading a campaign against unregulated expansion, warning that Alibaug could lose its coastal charm to unchecked urbanisation. While improved road, rail, and sea connectivity have benefited locals, there is a fear that recent regulatory changes permitting high-rises, townships, and luxury hotels may transform Alibag into an unplanned concrete sprawl.
Despite these concerns, Peninsula Land remains committed to developing sustainable and premium communities that cater to the growing demand for high-quality living spaces in the region. The company's strategic acquisition and planned development projects are expected to contribute significantly to the real estate landscape of Alibaug and Karjat, positioning them as desirable destinations for both residents and investors.
Frequently Asked Questions
What areas did Peninsula Land acquire land in?
Peninsula Land acquired 11 acres in Alibaug's Sogaon and 29 acres in Karjat's Bhilawale.
What is the total area of land acquired by Peninsula Land?
Peninsula Land acquired a total of 40 acres of land in Alibaug and Karjat.
What is the planned launch date for the new projects?
The planned launch date for the new projects in Alibaug and Karjat is during the festive season later this year.
What is the target audience for these new projects?
The target audience includes NRIs, domestic and outstation investors, second-home buyers, and urban families seeking long-term lifestyle upgrades or luxury holiday homes.
What concerns have been raised by local residents and environmentalists?
Local residents and environmentalists are concerned that unregulated expansion and recent regulatory changes permitting high-rises, townships, and luxury hotels may transform Alibaug into an unplanned concrete sprawl, potentially losing its coastal charm.
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