Alfavision Overseas (India) Limited has entered into a term sheet with Della Resorts & Adventure Private Limited for the development of an integrated hospitality, adventure and lifestyle destination in Madhya Pradesh. The proposed project carries an indicative Gross Development Value (GDV) potential of over ₹2,000 crore.
The development will be located at Village Saras, Icchawar, District Sehore, and is planned as a large-scale destination integrating hospitality infrastructure, leisure experiences and lifestyle facilities.
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Strategic collaboration between Alfavision and Della
The agreement outlines a strategic development arrangement between Alfavision Overseas (India) Limited and Della Resorts & Adventure Private Limited. The collaboration will focus on conceptualisation, development advisory, branding, marketing strategy, sales planning and operational design for the proposed hospitality project.
The initiative is intended to combine Alfavision’s land assets with Della’s experience in hospitality and adventure-based destination development.
220-acre site planned for integrated development
The project will be developed across approximately 220 acres of land located in Village Saras in the Icchawar region of Sehore district in Madhya Pradesh.
The site includes land owned by Alfavision Overseas (India) Limited along with parcels owned by certain promoter group entities, which together form the project’s development footprint.
The location has been identified for creating a destination that integrates accommodation, recreation and lifestyle experiences within a single hospitality development.
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Mixed-use destination with resorts, villas and adventure facilities
The proposed development is envisioned as a mixed-use hospitality and lifestyle destination.
The project is expected to include luxury resorts, hospitality facilities, villas, branded residences, wellness centres, adventure park attractions and other residential and non-residential developments.
The concept combines tourism infrastructure with lifestyle and recreational amenities to create a large-scale hospitality destination in the region.
Special Purpose Vehicle planned for hospitality component
As part of the proposed development structure, a Special Purpose Vehicle (SPV) will be formed to manage the hospitality component of the project.
Under the proposed structure, the land-owning entities including Alfavision and promoter group entities will collectively hold a 74 percent stake, while Della Resorts & Adventure Private Limited will hold a 26 percent stake.
Della’s stake may be issued through sweat equity or another mutually agreed structure, reflecting its contribution in development expertise, branding, conceptualisation, design and operational support.
Agreement executed in March 2026
The term sheet between the two companies was executed on March 06, 2026.
The arrangement does not fall under related party transactions, although the land involved includes property owned by Alfavision and certain promoter group entities.
Detailed project terms are expected to be finalised through definitive agreements to be executed between the parties at a later stage.
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Development expected to unlock value from land holdings
According to the companies, the collaboration is expected to unlock development value from Alfavision’s land assets while creating a large integrated hospitality destination in Madhya Pradesh.
The project’s indicative Gross Development Value of more than ₹2,000 crore remains subject to final design, statutory approvals and market conditions.
