First-time investment: Kartik Aaryan buys Alibaug land for ₹2cr
What's the story
Bollywood actor Kartik Aaryan has made his debut investment in land by purchasing a 2,000 sq. ft. plot in Alibaug, near Mumbai, for ₹2 crore. The coastal development project was launched by The House of Abhinandan Lodha (HoABL) in April 2023 and has already attracted investments from corporate leaders, business owners, and film personalities. Aaryan's purchase adds to the list of high-profile buyers involved with HoABL projects across Ayodhya, Vrindavan, and Goa.
Aaryan's statement
Aaryan's excitement and mother as PoA
Aaryan expressed his excitement about the investment, saying, "Alibaug has become one of the most exciting places to invest in today, close to Mumbai and I plan to build my own home there. This is the first time I have invested in land." The deal was registered by Aaryan's mother, Mala Tiwari, who acted as Power of Attorney along with his father Manish Tiwari.
Market trends
Infrastructure upgrades and real estate boom in Alibaug
Alibaug has witnessed a surge in real estate and tourism activities in recent years, aided by infrastructure upgrades like the Mumbai Trans Harbour Link (MTHL), Navi Mumbai International Airport, and better road and jetty connectivity. These developments have fueled demand for premium plotted projects and second homes, making Alibaug an attractive residential destination for Mumbaikars.
Market insights
Celebrity investments and 2nd home demand in Alibaug
Abhinandan Lodha, Chairman of HoABL, said Aaryan's investment is a testament to Alibaug's growing appeal among Mumbaikars. He noted that this trend has also been observed with previous investments from celebrities like Amitabh Bachchan and Kriti Sanon, as well as many business owners and corporate CXOs. Samujjwal Ghosh, CEO of HoABL, added that the demand for second homes in Alibaug is driven by long-term growth potential and lifestyle needs.