NeoLiv Aims to Raise Rs 1,000 Crore for Real Estate Fund to Launch 8 Projects
NeoLiv, a real estate startup, is targeting to close its first fund with Rs 1,000 crore, focusing on plotted development and villa projects in key cities like Alibaug and Sonepat. The initial projects are expected to be launched in the March quarter.
Real EstateNeolivReal Estate FundPlotted DevelopmentVilla ProjectsReal EstateDec 04, 2024
Mohit Malhotra, in a conversation with Moneycontrol, stated, 'Our initial close was around Rs 300 crore, and we have raised an additional Rs 100 crore since then. Our target is to reach Rs 1,000 crore for this fund, and we are actively exploring various opportunities.' The fund has attracted investments from family offices, drawn by the strong demand and potential in the real estate market.
The company has signed term sheets for eight projects, with the first two projects in Sonepat (Haryana) and Alibaug (Mumbai Metropolitan Region, MMR) expected to go live in the March quarter. These projects are currently in the approval stage. NeoLiv plans to offer plots in the Rs 1-1.5 crore range, with an estimated total booking value of Rs 1,000 crore.
For the Alibaug project, NeoLiv has acquired the land parcel, while the Sonepat project is a joint venture with Royal Green Realty. The company sees a potential booking value of around Rs 4,000 crore from the full deployment of the Rs 1,000 crore AIF.
Founded in early 2023, NeoLiv has a strategic partnership with asset management firm 360 One, which holds a 15 percent stake in the company. Unlike other plotted development and villa players that focus on tourist and religious destinations, NeoLiv aims to expand in and around large cities such as Delhi-NCR and the MMR.
In Mumbai, NeoLiv is particularly focused on the Panvel-Alibaug belt, capitalizing on major infrastructure projects like the trans-harbour Atal Setu and the upcoming Navi Mumbai International Airport, which is less than 20 km from some project locations. Similarly, in Delhi-NCR, the company is banking on road projects like the KMP Expressway to significantly reduce travel times to key office hubs such as Gurugram and Noida.
The strategic location of these projects and the ongoing infrastructure developments are expected to drive demand and enhance the value proposition for buyers. NeoLiv's approach to real estate investment and development is poised to create a significant impact in the plotted development and villa segments, offering a unique blend of accessibility and lifestyle.
Frequently Asked Questions
What is NeoLiv's target for its maiden real estate fund?
NeoLiv aims to raise Rs 1,000 crore for its first real estate fund, which will be used to launch eight projects in the plotted development and villa segments across key cities.
Where are NeoLiv's first two projects located?
NeoLiv's first two projects are located in Sonepat (Haryana) and Alibaug (Mumbai Metropolitan Region, MMR), both of which are expected to be launched in the March quarter.
What is the expected booking value from NeoLiv's first two projects?
NeoLiv expects to generate a total booking value of around Rs 1,000 crore from its first two projects, with plots priced in the Rs 1-1.5 crore range.
Who is the founder and CEO of NeoLiv?
Mohit Malhotra, a former Managing Director and CEO of Godrej Properties, is the founder and CEO of NeoLiv.
What infrastructure projects are NeoLiv leveraging for its projects in the Panvel-Alibaug belt?
NeoLiv is leveraging major infrastructure projects like the trans-harbour Atal Setu and the upcoming Navi Mumbai International Airport for its projects in the Panvel-Alibaug belt.
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