Mumbai-based fund-led real estate developer NeoLiv announced on September 11 that it has signed a management agreement to develop 47 acres of prime land in Khopoli, near Mumbai. The mixed-use villa project is expected to generate a revenue potential of ₹600 crore.
With this project, NeoLiv expands its footprint into a fast-growing micro-market within the Mumbai Metropolitan Region (MMR). The development will feature a premium community of villas and plotted residences.
The development will offer a mixed-use community comprising premium villas and plots, along with retail convenience for lifestyle needs, and amenities such as the region's first theme-based development and an internationally designed club, it said.
"This partnership represents a significant milestone for NeoLiv as we announce one of our largest forays 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," said Mohit Malhotra, founder and CEO of NeoLiv.
{{/usCountry}}"This partnership represents a significant milestone for NeoLiv as we announce one of our largest forays 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," said Mohit Malhotra, founder and CEO of NeoLiv.
{{/usCountry}}The company noted that the Panvel–Khalapur–Khopoli belt in the MMR has gained momentum due to upcoming infrastructure projects, including its proximity to the Mumbai Trans Harbour Link, key highways like the Mumbai–Pune and Mumbai–Goa expressways, and the Navi Mumbai International Airport.