NeoLiv Acquires 17.5 Acres in Khopoli for Premium Plotted Development and Villas Project
Mumbai-based NeoLiv, a fund-led real estate developer, has made a significant move by acquiring a 17.5-acre land parcel in Khopoli, near Mumbai. This acquisition is aimed at developing a plotted and villas project with a total development cost of ₹150 crore. The project is designed to cater to the growing demand for second homes and premium residential options in the region.
The project will have a gross saleable area of 0.36 million sq ft and will offer a mix of premium residential plots and villas. Additionally, the development will include amenities such as a club to enhance the living experience for residents. The strategic location of the project, just an hour's drive from the upcoming Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL), also known as Atal Setu, adds to its appeal.
Mohit Malhotra, founder and CEO of NeoLiv, expressed his enthusiasm for the acquisition: "This acquisition represents a significant milestone for NeoLiv as we announce our key plotted development project in the most sought-after micro-market in the country. Backed by UHNI investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are committed to delivering exceptional living experiences that will set new benchmarks for residential developments."
The project's proximity to the entertainment hub Imagicaa Theme Park further enhances its appeal, making it an attractive option for those looking for a blend of luxury and leisure. The Panvel-Khalapur-Khopoli belt has emerged as one of the most dynamic regions in the Mumbai Metropolitan Region (MMR) due to its robust infrastructure and economic advantages, including its proximity to highways like Mumbai-Pune and Mumbai-Goa.
Post-COVID-19, several real estate developers in Mumbai and Pune have launched plotted and villa development projects across Maharashtra to meet the growing demand for second homes. Popular locations for these developments include Lonavala and Khandala near Pune, Dapoli in the Konkan region, Alibaug in Raigad district, Manor in Palghar, Igatpuri, Kasara Ghat near Nashik, and the Karjat-Neral belt near Mumbai.
For instance, in August 2024, Godrej Properties Ltd announced the acquisition of an approximately 90-acre land parcel in Khalapur—Raigad, Maharashtra. The parcel is estimated to have a development potential of approximately 1.7 million square feet of saleable area, primarily comprising residential plotted development. This land is located near the Karjat Khopoli Road, further underscoring the region's potential for high-end residential projects.
NeoLiv's acquisition and development plans in Khopoli reflect the growing trend of real estate developers capitalizing on the demand for premium living spaces in strategic locations. With its focus on delivering exceptional living experiences and a commitment to high standards, NeoLiv is poised to set new benchmarks in the real estate sector.
