On Thursday, Indian cricket star Virat Kohli bought a 2,000 sq ft villa in Awas Village, Alibaug, for ₹6 crore as part of the Avas Living luxury bungalow project.
Awas Village is a preferred location due to its natural beauty, and it is just a five-minute distance away from the Mandwa jetty, from where speed boats take 15 minutes to reach Mumbai, according to advocate Mahesh Mhatre, who is the legal consultant for Avas Living Alibaug LLP.
Kohli's brother Vikas Kohli completed the registration formalities at the Alibaug sub-registrar's office on behalf of the cricketer, who was busy with the Australia tour at the time.
Kohli paid a stamp duty of ₹36 lakh, and as per the registration document, he will also receive a 400 sq ft swimming pool as part of the deal.
Industry sources suggest that Alibaug is expected to see an investment of approximately ₹3,000 crore in the near future, and an estimated 250 acres are likely to be developed in a phased manner with luxury villas and integrated townships.
According to Ritesh Mehta, Senior Director and Head, West and North India, Residential Services, JLL, the average land prices in Alibaug are around ₹3,000 to ₹3,500 per sq ft.
Alibaug is a weekend destination among the elite class, and the city is connected to Mumbai by ferry services, making it an ideal commercial hub.
Its proximity to the proposed special economic zone New Mumbai SEZ is another driving factor for the locality's realty developments.
This is the second property that Kohli has purchased in Alibaug.
On September 1, 2022, Kohli and his wife, actor Anushka Sharma, registered the purchase of a 36,059 sq ft farmhouse in Zirad village for ₹19.24 crore. The Kohlis paid a stamp duty of ₹1.15 crore.
Kohli's successor, Rohit Sharma, also bought four acres of land in Mhatroli village, Alibaug, in 2021.
