Embassy Developments Ltd has received approval from the Maharashtra Real Estate Regulatory Authority for the first phase of its residential project in Alibaug, marking the company's formal entry into the fast-growing lifestyle and second-home market within the Mumbai Metropolitan Region.

The development, which carries an estimated gross development value of approximately ₹400 crore, spans nearly 0.2 million square feet of RERA carpet area. The company confirmed the regulatory clearance in a statement issued on February 16.

The first phase of the development is spread across a 7-acre land parcel in Thal Village, Alibaug. It will feature five G+5 residential towers comprising 52 homes designed in duplex and simplex formats. The launch is expected within the current quarter, while possession is targeted for 2030, subject to construction timelines and statutory approvals.

Branded as Embassy Serenity, the project is being positioned as a resort-style residential enclave. Alibaug, often compared to premium coastal destinations due to its proximity to Mumbai, has increasingly drawn interest from affluent buyers seeking second homes away from the city's congestion.

More than half of the project area, around 52 percent, has been earmarked for open green spaces. The development includes a traffic-free podium concept and is being planned as a landscape-integrated community.

International design consultants have been engaged for the project. Broadway Malyan from the United Kingdom is leading architectural design, while Singapore-based Coopers Hill is overseeing landscape planning.

The residences will be maintained by Embassy Services Private Limited. Homeowners will also have access to a curated service platform offering lifestyle and housekeeping support tailored for Embassy communities.

According to the company's leadership, demand for second homes among high-net-worth individuals is evolving beyond weekend retreats. Buyers are increasingly looking for residences that offer space, privacy, service integration, and long-term usability as lifestyle extensions rather than occasional getaways.

Alibaug's improved connectivity to Mumbai and rising interest from premium buyers have strengthened its positioning as a coastal residential hub within the MMR.

The RERA approval follows strong quarterly performance by Embassy Developments. In the third quarter of FY26, the company reported pre-sales of ₹1,392 crore, reflecting significant sequential growth. Collections during the same period stood at ₹414 crore.

The company also secured multiple RERA approvals across projects during the quarter, representing an aggregate gross development value exceeding ₹12,800 crore.

With regulatory approval now in place, Embassy Developments' Alibaug entry signals growing institutional interest in India's premium second-home market. Backed by a ₹400 crore development plan, international design partnerships, and a long-term delivery roadmap, the project highlights the increasing formalisation and branding of lifestyle housing in emerging coastal micro-markets. As affluent buyers continue seeking integrated, service-led residential experiences, Alibaug appears poised to attract sustained developer attention.