NeoLiv buys 12 acre land at Alibaug to develop Rs 400 cr housing project

Realty firm NeoLiv has bought 12-acre land at Alibaug near Mumbai to develop a luxury housing project with a sales potential of around Rs 400 crore.

The company did not disclose the land deal value and name of the seller.

In a statement on Wednesday, NeoLiv announced the acquisition of 12 acres of prime land in Alibaug, marking the company's foray into the highly sought-after Mumbai Metropolitan Region (MMR) market.

"The development with an option to extend to 20 acres and projected gross value of more than Rs 400 crore will offer an exceptional mix of premium villas and plots," it said.

NeoLiv founder and CEO Mohit Malhotra said this acquisition represents a significant milestone for the company.

"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," Malhotra said.

Alibaug, kno