Key highlights for ASK Property Fund’s Navi Mumbai investment:
- Significant Investment: ASK Property Fund commits ₹210 crore in partnership with Gami Group for two residential projects in CBD Belapur and Ghansoli, Navi Mumbai.
- Project Details: The Belapur development at Parsik Hill will offer 2 & 3 BHK apartments, while the Ghansoli project benefits from proximity to railway station, Thane-Belapur Road, industrial zones, and IT parks.
- Strategic Rationale: Investment driven by upcoming infrastructure projects, including Navi Mumbai International Airport and Atal Setu bridge, plus CIDCO’s land allocation plans for residential and commercial growth.
- Institutional Collaboration: Marks a strategic partnership combining ASK’s private equity real estate expertise with Gami Group’s 25 years of development experience across 30 projects.
ASK Property Fund has teamed up with Gami Group to co-invest in two residential projects in Navi Mumbai, with the fund having set aside an amount of 210 crore for the same, the officials of the company have revealed.
The money will be used to develop parts of the CBD Belapur and Ghansoli areas, which are two of the fastest, growing residential hubs in Navi Mumbai. The Belapur project covers almost two acres and will be situated at Parsik Hill. It will offer 2, and 3, bedroom (BHK) apartments. The Ghansoli project, on the other hand, is conveniently situated close to the local railway station and Thane Belapur Road, thus it will derive benefits from the closeness to the industrial zones and IT parks.
Bhavin Jain, Chief Investment Officer of ASK Property Fund, said, “Our investment in Navi Mumbai reflects confidence in the city’s evolving infrastructure, including the Navi Mumbai International Airport and the Atal Setu bridge connecting it to Mumbai. CIDCO’s land allocation plans for residential and commercial use further enhance the region’s growth potential.”
Ambalal Gami, Founder of Gami Group, described the investment as the start of a collaboration with ASK Property Fund. “This partnership marks a new chapter for Gami Group. Over the past 25 years, we have delivered projects to more than 3,800 families across 30 completed developments,” he said.
ASK Property Fund, a real estate fund backed by Blackstone through ASK Asset & Wealth Management Group, exclusively targets private equity residential real estate. The fund has mobilized over 8, 700 crore since 2009, and the larger ASK Group has an asset under management portfolio of over 82, 000 crore as of December 31, 2025.
Investing in Navi Mumbai is a good move as residential real estate in the area has been gaining traction due to better connectivity and various infrastructure projects being carried out. From analysis, CBD Belapur and Ghansoli have been identified as the most attractive locations for homebuyers because of the closeness to business areas, educational facilities, and transport services.
As per Cushman & Wakefield’s, MARKETBEAT RESIDENTIAL Q4 2025, Extended Eastern Suburbs submarket recorded the highest number of new launches of 4,186 units in Q4 2025, capturing a share of ~27% of city's total launches. This was followed by the Eastern Suburbs, which saw new launches of 2,711 units, accounting for ~17% share. Navi Mumbai, Extended Western Suburbs and Western Suburbs had a nearly equal share of ~14% each. The South Central submarket accounted for ~10% share with 1,520 units.
Through the subsidizing of these two schemes, ASK Property Fund is looking to benefit from the city's increasing need for quality housing and at the same time offer developers the money necessary to carry out large projects efficiently. Moreover, this partnership is a nice illustration of the trend of institutional investors making their way into the residential real estate market in Tier, II and satellite cities of Mumbai.
Since both projects will be underway shortly, Gami Group and ASK Property Fund intend to tap into their joint knowledge in development, planning, and investment management to roll out top notch housing projects in Navi Mumbai. This step has placed ASK Property Fund as a major investor in the locality and essentially marks Navi Mumbai as an increasingly attractive residential real estate growth corridor in India.
