Following Ayodhya, HoABL plans to invest in Vrindavan and Varanasi, allocating Rs 3,000 crore across six new projects.

2024-11-09 02:13:45

House of Abhinandan Lodha (HoABL), a Mumbai-based real estate developer, has completed the acquisition of over 352 acres of land across Vrindavan, Varanasi, Amritsar, Shimla, Nagpur, and Khopoli (near Mumbai). HoABL will invest approximately Rs 3,000 crore in plotted development projects at these six locations. This investment covers both land acquisition costs and 50% of development expenses, according to Abhinandan Lodha, the company's Chairman.

The Vrindavan and Varanasi projects are modeled after HoABL's Ayodhya project, with project launches planned between January and June 2025. The company anticipates revenue of around $1 billion (approximately Rs 8,500 crore) from these ventures.

In Vrindavan, the 60-acre project will be situated roughly 10 km from the Banke Bihari Temple. “We are targeting tourist hotspots with good infrastructure for these projects. Locations like Vrindavan, Varanasi, and Amritsar attract significant tourist footfall, and infrastructure upgrades—such as the upcoming Noida airport in Jewar along the Yamuna Expressway—will benefit the entire region, including Agra and the NCR,” said Lodha at the November 8 inauguration of HoABL’s new office in Gurugram, a hub for the company’s north India projects.

Earlier, in January 2024, HoABL launched a 250-plot project in Ayodhya named ‘Sarayu,’ with an investment of Rs 1,200 crore, which saw all first-phase plots sold out.

For the current projects, HoABL has secured over 50 acres in Khopoli, over 100 acres in Nagpur, around 75 acres in Varanasi, 45 acres in Amritsar, and around 11 acres in Shimla. With these additions, HoABL will be active in 16 cities across India and is exploring 48 more locations for future projects, including Lucknow, Kanpur, and Noida.

The planned developments will feature amenities such as a clubhouse, swimming pools, a children’s area, and dedicated spaces for senior citizens.

In December 2024, HoABL aims to deliver 180 acres—nearly five million square feet—of developments in Anjarle and Neral in Maharashtra, with further deliveries planned in Dapoli, Alibaug, Ayodhya, and Goa within the following 10-12 months.