Peninsula Land Unlocks New Horizons with Alibaug-Karjat Expansion

Peninsula Land, part of the Ashok Piramal Group, has acquired 40 acres of land—11 acres in Sogaon, Alibaug, and 29 acres in Bhilawale, Karjat—marking its foray into the premium plotted development segment in high-demand micro-markets near Mumbai.

The company plans to develop gated plotted communities featuring modern infrastructure and curated amenities, targeting NRIs, domestic investors, second-home buyers, and urban families seeking lifestyle upgrades or holiday homes.

“This marks the first deployment of capital from our real estate platform and reflects our focused commitment to building a robust plotted development business,” said Rajeev Piramal, CEO and Managing Director, Peninsula Land.

This land acquisition is the inaugural investment from Peninsula’s ₹765-crore real estate platform, launched in partnership with Alpha Alternatives and Delta Corp. Project launches are expected to coincide with the upcoming festive season, capitalizing on rising demand for land near Mumbai, driven by enhanced road and rail connectivity.

Peninsula now joins leading developers such as Lodha, Oberoi Realty, Hiranandani, Mahindra Lifespaces, and HoABL in expanding into the Alibaug–Karjat corridor.

News by Rahul Yelligetti.