NeoLiv will Expand through Joint Venture in Delhi-NCR and Mumbai

NeoLiv will Expand through Joint Venture in Delhi-NCR and Mumbai

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9 month(s) ago

NeoLiv Gears Up for Major Expansion in Delhi-NCR and Mumbai Real Estate. NeoLiv, a new residential real estate venture, is embarking on an ambitious growth plan. Led by Mohit Malhotra, former MD and CEO of Godrej Properties, NeoLiv aims to develop around 10 million sq ft of housing projects across Delhi-NCR and Mumbai. NeoLiv will Expand through Joint Venture in Delhi-NCR and Mumbai

Key Highlights:

  • Project Pipeline:
    • 5 group housing projects
    • 5 plotted developments
    • Total development potential: 10 million sq ft
  • Targeted Locations: Noida, Gurgaon, Goregaon, Chembur, Vikhroli, Borivali (and others)
  • Funding: Securing $150 million (including a $60 million green-shoe option) to become a top 15 developer by net worth
  • Equity Backing: ₹1,200 crore
  • Development Model: Asset-light development management model (unique in residential real estate)
  • Focus: Providing quality homes for the middle-income segment
  • Equity Partners: Eight, including wealth and alternatives firm ‘360 One’
  • Post-possession Services: Maintenance and facility management

Current Stage and Future Plans:

  • Negotiations for several JDAs (Joint Development Agreements) with landowners in Delhi-NCR and MMR are in advanced stages, with potential signings expected within 2-3 months.
  • Aim to secure 7-8 JDAs by the end of the fiscal year, totaling 10 million sq ft of development potential.
  • Launch at least two residential projects in the next financial year – around 1,000 units in NCR and 800 units in Mumbai.

Significance:

NeoLiv’s unique model and focus on middle-income housing position them to be a major player in the Delhi-NCR and Mumbai real estate markets. Their strong financial backing and experienced leadership team suggest a promising future.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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