NEW DELHI: Realty firm NeoLiv has secured a 17.5-acre plot in the Mumbai area and is set to invest Rs 150 crore in a new housing project.
On Thursday, the company announced the acquisition of land in Khopoli within the Mumbai Metropolitan Region (MMR) but did not disclose the purchase price.
According to NeoLiv founder and CEO Mohit Malhotra, “We will develop approximately 180 residential plots on this land, with the total project costing Rs 150 crore.”
The project will also feature villas.
Malhotra mentioned that this marks the company’s third development venture.
NeoLiv highlighted that the Panvel-Khalapur-Khopoli corridor is emerging as a favorable location in the MMR due to enhanced connectivity.
Earlier this June, NeoLiv announced the successful sale of all 263 plots in its inaugural project, ‘NeoLiv Grand Park’, located in Kundli-Sonipat, Haryana, generating over Rs 300 crore.
Additionally, the company acquired a 12-acre site in Alibaug near Mumbai aimed at a luxury housing project, with a sales potential of Rs 400 crore.
Founded by Malhotra, a former MD and CEO of Godrej Properties, alongside industry veterans and wealth management firm 360 ONE, all NeoLiv projects are supported by a SEBI-regulated AIF Fund to ensure financial security and timely completion for customers.
