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NeoLiv acquires 17.5 acres of land parcel in Khopoli near Mumbai for a plotted development project
NeoLiv said the project will comprise residential plots and villas with a gross saleable area of 0.36 million sq ft
Mumbai-based NeoLiv, a fund-led real estate developer, has acquired a 17.5-acre land parcel in Khopoli, near Mumbai, for a plotted development and villas project with a development cost of ₹150 crore.
The project will have a gross saleable area of 0.36 million sq ft and a total development cost of ₹150 crore, the company said in a statement.
The company said that the project will offer a mix of premium residential plots and villas alongside amenities such as a club.
"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," Mohit Malhotra, founder and CEO of NeoLiv, said.
Also Read: NeoLiv sells 263 residential plots for over ₹300 crore in Haryana
Proximity to entertainment hub Imagicaa Theme Park
According to the company, the project is just an hour's drive from the upcoming Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL), also known as Atal Setu. It is also very close to the entertainment hub Imagicaa Theme Park.
The company said that the Panvel-Khalapur-Khopoli belt has emerged as the most upcoming belt in the Mumbai Metropolitan Region (MMR) due to its huge infrastructure and economic boasts, including its proximity to highways like Mumbai-Pune and Mumbai-Goa.
Also Read: NeoLiv raises ₹300 crore in first close of maiden AIF for development of housing projects
Post-COVID-19, several real estate developers in Mumbai and Pune have launched plotted and villa development projects across Maharashtra, catering to the growing demand for second homes.
Popular locations 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.
Meanwhile, in August 2024, Godrej Properties Ltd announced that it had acquired 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, comprising primarily residential plotted development.
The land is located near Karjat Khopoli Road, the company said.
