NeoLiv Acquires 17.5-Acre Land in Mumbai Region for Rs 150 Crore Housing Project

NeoLiv, a rising player in the real estate sector, has announced its latest expansion move with the acquisition of a 17.5-acre land parcel in Khopoli, located in the Mumbai Metropolitan Region. The company plans to develop a housing project on this land with an estimated worth of Rs 150 crore, marking its third venture in the real estate market.

Project Details

The proposed development in Khopoli is set to feature approximately 180 plots and villas, catering to the growing demand for residential properties in the region. NeoLiv's decision to invest in the Panvel-Khalapur-Khopoli belt was primarily influenced by the area's improved connectivity, which is expected to boost its appeal to potential homebuyers.

NeoLiv's Growing Portfolio

This latest acquisition adds to NeoLiv's expanding portfolio of real estate projects:

1. NeoLiv Grand Park: The company's inaugural project at Kundli-Sonipat, Haryana, where all 263 plots were successfully sold, generating over Rs 300 crore in revenue.

2. Alibaug Luxury Housing Project: A 12-acre development with a sales potential of Rs 400 crore, showcasing the company's foray into the luxury segment.

3. Khopoli Housing Project: The newly announced venture, set to offer 180 plots and villas with a project value of Rs 150 crore.

Company Background

NeoLiv was founded by Mohit Malhotra in collaboration with industry experts and has formed a strategic partnership with 360 ONE, a wealth management firm. A notable aspect of NeoLiv's operations is that all its projects are backed by a SEBI-regulated Alternative Investment Fund (AIF), which adds a layer of financial credibility and oversight to their ventures.

Market Implications

The company's rapid expansion and successful sales in previous projects indicate a strong market response to NeoLiv's offerings. The choice of Khopoli for its latest project reflects the growing interest in developing areas within the Mumbai Metropolitan Region, as improved infrastructure and connectivity make these locations increasingly attractive for residential development.

As NeoLiv continues to expand its footprint in the real estate sector, its projects backed by SEBI-regulated funds and strategic locations could potentially reshape the residential landscape in the regions where it operates.