NeoLiv Acquires 17.5 Acres in MMR for Rs 150 Cr Housing Project

NeoLiv, a leading real estate firm, has made a significant move by acquiring 17.5 acres of land in the Mumbai Metropolitan Region (MMR) to develop a new housing project. The company plans to invest Rs 150 crore in this venture, which will include the development of around 180 plots and villas. This acquisition marks NeoLiv's third major project in the region, highlighting the company's strategic expansion and commitment to delivering high-quality residential options.

In a statement released on Thursday, NeoLiv founder and CEO Mohit Malhotra, a former MD and CEO of Godrej Properties, said, “We are thrilled to announce our third project in the MMR. The land acquisition at Khopoli is a strategic move that aligns with our vision to provide premium living options in well-connected areas. The total project cost will be Rs 150 crore, and we are confident that this project will be a success.”

The Panvel-Khalapur-Khopoli belt is emerging as a prime location in the MMR due to its improved connectivity and infrastructure. This region is experiencing rapid development, making it an attractive choice for real estate investments. NeoLiv's decision to invest in this area is a testament to the growing potential and demand for high-quality housing in these locations.

This is not the first significant project for NeoLiv. In June this year, the company successfully sold all 263 plots in its first project, 'NeoLiv Grand Park,' located in Kundli-Sonipat, Haryana. The project, which generated over Rs 300 crore, was a resounding success and set a strong foundation for the company's future endeavors.

Additionally, NeoLiv had previously acquired a 12-acre land at Alibaug near Mumbai to develop a luxury housing project with a sales potential of Rs 400 crore. These projects demonstrate NeoLiv's focus on premium and luxury housing, catering to a discerning clientele looking for high-quality living spaces.

NeoLiv has been founded by Mohit Malhotra and industry experts in partnership with wealth management firm 360 ONE. The company's projects are backed by a SEBI-regulated AIF Fund, ensuring financial security and timely project completion for customers. This robust financial backing and the expertise of the founding team are key factors driving NeoLiv's success in the competitive real estate market.

The acquisition of the 17.5-acre land in Khopoli and the subsequent development of a housing project worth Rs 150 crore is a significant step forward for NeoLiv. It not only solidifies the company's position in the MMR but also underscores its commitment to delivering premium living options in well-connected and rapidly developing areas. With a strong track record and a clear vision, NeoLiv is poised to continue its growth and contribute to the evolving landscape of the real estate sector.