ASK Property Fund Invests Rs 2.1 Billion in Navi Mumbai

22 Jan 2026 CW Team

ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, will invest Rs 2.1 billion in two residential projects developed by Gami Group in Navi Mumbai.

One project is located in CBD Belapur and spans around two acres, offering two- and three-bedroom homes. The second project is in the Ghansoli micro-market, close to Ghansoli railway station and the Thane–Belapur Road, providing strong connectivity and access to key employment hubs.

Bhavin Jain, Chief Investment Officer at ASK Property Fund, said the investment marks the fund’s entry into the Navi Mumbai market, which has gained momentum following major infrastructure upgrades such as the upcoming Navi Mumbai International Airport and improved connectivity with Mumbai via Atal Setu. He added that both developments offer attractive investment opportunities due to their prime locations within established residential catchments.

Navi Mumbai’s residential market has seen steady, fundamentals-driven growth, with average prices rising 22.4 per cent between 2021 and 2025, from Rs 14,800 to Rs 18,100 per square foot, and a measured 4 per cent year-on-year increase in 2024–25, according to RealX Stats by InvestoXpert.

Jain also noted that planned land allocation by the City and Industrial Development Corporation of Maharashtra for residential and commercial development, along with improving intra-city connectivity, has further strengthened Navi Mumbai’s real estate outlook.

Ambalal Gami, founder of Gami Group, said both projects feature configurations and ticket sizes aligned with current buyer preferences. The Navi Mumbai-based developer has completed around 3.7 million square feet of projects, with 7.6 million square feet under construction and a further 5.4 million square feet in the pipeline.

Recently, ASK Property Fund also announced an investment of Rs 3.4 billion in a portfolio of three residential projects led by the Pune-based Mantra Group. ASK Property Fund is the alternate assets investment arm of the ASK Group, focused on private equity investments in self-liquidating residential projects. Since 2009, ASK has raised over Rs 87 billion, with investors including family offices, high net worth individuals, ultra-high net worth individuals and institutional investors.

ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, will invest Rs 2.1 billion in two residential projects developed by Gami Group in Navi Mumbai. One project is located in CBD Belapur and spans around two acres, offering two- and three-bedroom homes. The second project is in the Ghansoli micro-market, close to Ghansoli railway station and the Thane–Belapur Road, providing strong connectivity and access to key employment hubs. Bhavin Jain, Chief Investment Officer at ASK Property Fund, said the investment marks the fund’s entry into the Navi Mumbai market, which has gained momentum following major infrastructure upgrades such as the upcoming Navi Mumbai International Airport and improved connectivity with Mumbai via Atal Setu. He added that both developments offer attractive investment opportunities due to their prime locations within established residential catchments. Navi Mumbai’s residential market has seen steady, fundamentals-driven growth, with average prices rising 22.4 per cent between 2021 and 2025, from Rs 14,800 to Rs 18,100 per square foot, and a measured 4 per cent year-on-year increase in 2024–25, according to RealX Stats by InvestoXpert. Jain also noted that planned land allocation by the City and Industrial Development Corporation of Maharashtra for residential and commercial development, along with improving intra-city connectivity, has further strengthened Navi Mumbai’s real estate outlook. Ambalal Gami, founder of Gami Group, said both projects feature configurations and ticket sizes aligned with current buyer preferences. The Navi Mumbai-based developer has completed around 3.7 million square feet of projects, with 7.6 million square feet under construction and a further 5.4 million square feet in the pipeline. Recently, ASK Property Fund also announced an investment of Rs 3.4 billion in a portfolio of three residential projects led by the Pune-based Mantra Group. ASK Property Fund is the alternate assets investment arm of the ASK Group, focused on private equity investments in self-liquidating residential projects. Since 2009, ASK has raised over Rs 87 billion, with investors including family offices, high net worth individuals, ultra-high net worth individuals and institutional investors.

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