Real estate firm NeoLiv has made a significant move in the Mumbai Metropolitan Region (MMR) by acquiring a prime 12-acre plot in Alibaug, a coastal town near Mumbai, for the development of a luxury housing project. The project is estimated to have a sales potential of approximately INR 400 crore. However, the company has not disclosed the exact value of the land deal or the identity of the seller.
Alibaug, famed for its natural beauty, historic forts, serene beaches, and vibrant water sports activities, has become a prime location for affluent buyers seeking a coastal retreat. The development will offer a mix of premium villas and residential plots, with the potential to expand up to 20 acres, increasing the gross development value beyond INR 400 crore. This expansion would further solidify NeoLiv's presence in one of India's most desirable regions.
The decision to enter the Alibaug market aligns with NeoLiv's vision to cater to the increasing demand for luxury and high-end residential projects in the MMR area. Alibaug's scenic charm, combined with its accessibility from Mumbai, makes it a highly attractive location for both investors and homebuyers looking for second homes or weekend retreats.
With plans to develop an exceptional living experience, NeoLiv aims to cater to ultra-high-net-worth individuals (UHNI) seeking premium properties that provide not only luxury but also exclusivity and tranquility. The mix of villas and plots within the development will offer prospective buyers a choice of customised living spaces, set against the backdrop of Alibaug's natural beauty.
NeoLiv's founder and CEO, Mohit Malhotra, who previously served as the MD and CEO of Godrej Properties, highlighted that this acquisition is a significant milestone for the company. The project is backed by ultra-high-net-worth individuals (UHNI) through a SEBI-approved fund, giving it a solid financial foundation. Malhotra also pointed out that NeoLiv's team, which has over 100 years of combined experience in the real estate sector, is equipped to deliver exceptional residential projects that will set new benchmarks in the industry.
The strategic leadership of NeoLiv, backed by experienced industry professionals, ensures that the company is well-positioned to meet the growing demand for luxury residential spaces. Malhotra reiterated the company's commitment to creating innovative, world-class living experiences that will exceed customer expectations and redefine the standards for residential developments in India.
Alibaug is well known for its tranquil beaches, historic forts, and an active lifestyle that includes water sports and other outdoor activities. Over the years, it has become a favoured destination for affluent individuals looking for a peaceful yet accessible retreat away from the bustling Mumbai city life. The town's growing popularity as a residential destination is driven by its proximity to Mumbai, combined with its scenic appeal, making it ideal for those seeking an upscale living experience with easy access to urban amenities.
NeoLiv, which operates as a fund-backed developer, was founded by Mohit Malhotra in partnership with industry experts and the wealth management firm 360 ONE. The company's approach is unique in that all NeoLiv projects are supported by a SEBI-regulated Alternative Investment Fund (AIF), providing financial security and ensuring the timely completion of projects. This regulation not only gives investors confidence in the financial integrity of the projects but also reassures customers that their investments will be managed with the highest standards of transparency and accountability.
NeoLiv's recent acquisition of land in Alibaug signals the company's strong ambition to carve out a significant presence in the luxury residential market, particularly within the Mumbai Metropolitan Region. With plans to expand its portfolio in other regions, such as North India, and its strong financial backing from UHNI investors through a SEBI-approved fund, NeoLiv is poised to become a leading player in India's premium housing sector. As the demand for upscale living spaces continues to rise, especially among the UHNI segment, NeoLiv's expertise and commitment to delivering high-quality developments will likely set new standards for luxury real estate in the country.
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