Peninsula Plants Stakes in Paradise: Snaps Up 40 Acres in Alibaug & Karjat

Key Highlights

 

Peninsula Land, part of the Ashok Piramal Group, has acquired 40 acres of prime land—11 acres at Sogaon, Alibaug, and 29 acres at Bhilawale, Karjat—making a strategic entry into the plotted development high-demand space near Mumbai. The first investment of Peninsula's newly established Rs 765-crore realty platform, in association with Alpha Alternatives and Delta Corp, is the acquisition.

 

Strategic Plan and Market Timing

 

The purchased land plots are reserved for high-end plotted houses with contemporary amenities, carefully chosen facilities, and safe living. The target customers are NRIs, local investors, second-home buyers, and city families seeking to upscale lifestyle or high-end holiday homes.

 

The launches will coincide with the coming festival season, riding a surge in demand for land within driving distance of Mumbai. Better connectivity and lifestyle aspiration have turned Alibaug and Karjat into real estate destinations.

 

Industry Setting and Competitive Position

 

Peninsula Land's move is part of a larger trend of leading developers such as Lodha, Oberoi Realty, Hiranandani, Mahindra Lifespaces, and HoABL foraying in the Karjat-Alibaug corridor.

 

The master-planned scheme is becoming increasingly popular because purchasers are looking for flexibility, long-term value, and the possibility of bespoke homes in attractive, well-located locations.

 

Investor Response and Growth Potential

 

The news triggered a sharp rise in Peninsula Land shares, which rose over 16%, reflecting intense investor enthusiasm for the firm's expansion plans and prospects for the domestic property market.

 

Peninsula's top management has emphasized that this is just the beginning of an aggressive rollout of its planned development business, with further launches and acquisitions in the not-too-distant future.

 

Sources: Economic Times, Projects Today, Hindustan Times