In a recent development, Abhinandan Lodha, Chairman of The House of Abhinandan Lodha, expressed the company’s expansion plan. Also known as HOABL, it is a Mumbai-based realtor who aims to acquire land parcels across India. These land acquisitions will be nearly Rs. 1250 crore and it will be achieved in the Financial year 2025.
Lodha, further shared that the majority of land acquisition will take place in Maharashtra, Goa, Uttar Pradesh, Punjab, and Himachal Pradesh. The company also aims to acquire new lands in Madhya Pradesh, Rajasthan, and Gujarat.
Abhinandan Lodha said, “We will be delivering close to 6 million square feet of development by December 2024 in states where we are already operational. We expect to have about 700 acres of development by March 2025 and an additional land bank of 1,000 acres.”
He further said HOABL will invest approximately Rs. 1,800 crore to develop the projects by FY 2025.
Along with these, the company is also looking forward to investing in Amritsar, Khopoli near Mumbai, Nagpur, Varanasi, Shimla, and Vrindavan.
He also said, “This year we have already delivered the one Goa project close to Old Goa and we will be delivering two more projects in Maharashtra – The Celebration Land in Neral, Mumbai that has a development potential of 2.7 million sq ft and Tomorrow’s World in Anjarle with 2.9 million sq ft of development potential.”
The company said they have figured out 48 locations across the country for developing new projects in March 2028. Along with these, the company also has plans to develop four hotels. Abhinandan Lodha expressed his opinion to grow at 30 percent CAGR per annum in the upcoming financial year. He further said that NRI investment prospects are likely to grow by 30-35 percent.
He further said, “HOABL has invested over Rs. 1200 crore in the 75-acre plotted development project launched in Ayodhya in January 2024. We have already committed more than Rs. 3,000 crore investment in Uttar Pradesh by March 2027. In the upcoming years we will have three more assets in UP, where we will significantly increase our investments.”
The House of Abhinandan Lodha also has popular plotted development namely Sol de Alibaug in Alibaug. Abhinandan Lodha also said, “We are looking forward to tripling our portfolio in Alibaug over the next five years.”
In Goa – the company has three projects – One Goa, close to the new Manohar International Airport, Gulf of Goa, close to the Dabolim Airport and Imperial Goa in Old Goa. The last one is complete and handed over to the investors.
HOABL is amongst the first few developers who aim at plotted development and talk about the difficulties in land acquisitions, particularly when venturing into new cities.
Abhinandan Lodha, owner of HOABL said, “We have to look at several aspects like the state real estate regulations and the local laws for land acquisition. Additionally, in the absence of digitised land records, the tile of the land remains a major challenge in planning a plotted development project. Historically, in India, we have seen that an investment in the land has provided at least 20-25 percent compounded returns if held for more than 10 years.” He also thinks that Union Budget 2024-25 will have a positive impact on the real estate market. He said, “I believe with new changes after the budget, the buyers will be benefitting from lowering of capital gains tax on real estate transactions from 20 percent earlier to 12.5 percent. The removal of indexation will also lead to lower tax outflows according to my calculations.”
