Former Indian cricketer Sanjay Manjrekar has sold an 8,050-sq-m land parcel in Dhokawade village, Alibaug, Maharashtra, to CarTrade Tech Limited for ₹22.40 crore. The transaction, registered on October 27, 2026, also includes two existing residential structures on the property. According to property registration documents accessed by CRE Matrix, the deal involved a stamp duty payment of ₹1.344 crore.
What Are the Key Details of the Sanjay Manjrekar-CarTrade Tech Property Deal?
The 8,050-sq-m land parcel is located in Dhokawade village, Taluka Alibaug, in Maharashtra’s Raigad district. Sanjay Manjrekar sold the property to CarTrade Tech Limited for ₹22.40 crore. The transaction was registered on October 27, 2026, with the buyer paying ₹1.344 crore in stamp duty and ₹30,000 in registration fees. The property also includes two existing residential structures.
According to the registration documents, CarTrade Tech Limited was represented by its authorised signatory, Vinesh Mahabal Kuckian. The company operates several digital automotive marketplaces, including CarWale, BikeWale, OLX India and Shriram Automall, facilitating the purchase, sale and auction of new and used vehicles.
However, the registration documents do not disclose the intended use of the property or indicate whether CarTrade Tech plans any future development on the land.
Why Is Alibaug Attracting Real Estate Investment?
Alibaug has emerged as a popular second-home destination for buyers seeking residential properties, holiday homes, and land parcels beyond Mumbai. Its coastal location, accessibility from Mumbai, and growing interest in luxury residential developments have contributed to its real estate appeal.
Located in the Raigad district, Alibaug is approximately three to four hours from Mumbai by road via the Mumbai–Goa Highway. Alternatively, the Ro-Ro ferry service from the Gateway of India to Mandwa Jetty takes approximately 45 minutes. This offers another connectivity option.
According to local brokers, apartment capital values in Alibaug range between ₹15,000 and ₹17,000 per sq ft. Meanwhile, agricultural land prices range from ₹3 crore to ₹5 crore per acre. On the other hand, non-agricultural land commands approximately ₹8 crore to ₹10 crore per acre.
These price differences reflect the nature of land use, development potential, and location-specific demand across the region.
Which Other Celebrities Have Invested in Alibaug Real Estate?
Alibaug has attracted several prominent investors, including Bollywood celebrities, cricketers, and business personalities. A series of high-value property transactions in recent years highlights the destination’s growing popularity among affluent buyers.
Notable celebrity investments in Alibaug include Amitabh Bachchan’s purchase of three adjoining plots measuring a combined 9,557 sq ft in Alibaug Phase 2 for ₹6.6 crore. In another significant transaction, cricketer Virat Kohli and actor Anushka Sharma purchased a land parcel spanning over five acres in Alibaug for ₹37.86 crore in January 2026, according to property registration documents accessed by CRE Matrix.
Furthermore, several prominent developers, including Oberoi Realty, Lodha Developers and Hiranandani Developers, have established land banks in the region, reflecting continued interest in its real estate potential.
How Is Alibaug’s Real Estate Market Positioned for Future Growth?
Alibaug’s appeal as a second-home destination continues to attract individual investors, celebrities, and real estate developers. Its coastal setting, connectivity to Mumbai, and availability of larger land parcels make it an attractive market for buyers seeking residential and leisure-oriented investments.
Moreover, the entry of established developers and continued interest from high-net-worth individuals could support the region’s evolving real estate landscape. However, land values and investment potential vary depending on location, land classification, development permissions, and infrastructure access.
The acquisition by CarTrade Tech adds another notable transaction to Alibaug’s growing list of high-value property deals. However, the company’s intended use of the land remains undisclosed.
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