Compare Listings

Former Godrej Properties MD, now with NeoLiv, to develop 10 housing projects in Delhi-NCR and Mumbai

Former Godrej Properties MD, now with NeoLiv, to develop 10 housing projects in Delhi-NCR and Mumbai

NeoLiv, a real estate company which is set up[ by former MD and CEO of Godrej Properties Mohit Malhotra and six equity partners. The company is all set to develop around 10 housing projects across Delhi-NCR and Mumbai. 

The company is all set to launch five groups of housing projects and an equal number of plotted developments with a total development potential of 10 million square feet. The company has come up with 10 identified projects in Delhi-NCR and Mumbai Metropolitan Region (MMR) for development and it is also currently in talks with the landlord to enter into a Joint Development Agreement (JDA), Malhotra told reporters. 

The company already shortlisted around 10 projects across two cities, and a few of them are in the advanced stage of negotiations. These are also signed in the next two and three months. These projects however have units in the price range of rs 1 crore to rs 3 crore. The company aims to enter into 7-8 JDAs by the end of this financial year with a total development potential of 10 million square feet. 

The only focus will be those customers who want to buy some good quality homes in the middle-income segment. In fact, the bulk of our offerings will also have a price range of rs 1-3 crore per apartment. Plots will be in the range of rs 50 lakhs to rs 1 crore, Malhotra said.  

NeoLiv Capital Advisor has received approval for category II AIF from the capital market regulator Securities and Exchange Board of India, under which it intends to raise $150 million, including a $60 million green-shoe option. 

We are in the process of raising $150 million right now, which is targeting the first close by December end. As much as 40 to 50 percent might get an increase by the first closing. After we raise the funds, they will also come under the top 15 developers in terms of net worth. In fact, rs 1,200 crore worth of equity backing will also give customers comfort that the project will be completed on time. 

The company is in the process of raising $150 million right now and the first close is by December end, where it has 40 to 50 percent which might be raised by the first closing. This will also increase the fund and it will also come under the top 15 developers in terms of net worth. The company will also execute the real estate project under the asset-light development management model. NeoLiv is also an integrated residential platform, it has two arms – NeoLiv Capital Advisor and NeoLiv Real Estate. 

The model comes with a unique residential market, said Malhotra. This model has also been tried in the commercial and warehousing segments, it is also a first in the housing space. The developers are active in the high-end and affordable segments, and there are tons of players in middle housing due to which supply in this segment is getting constrained. The endeavor is also to fill the gap and offer quality homes to the middle-income segment. 

The wealth and alternatives-focused asset company, “360 One” has also picked up a minority state in NeoLiv talking the number of equity partners to eight. The company has also focused on offering services to customers after possession of their apartments, including maintenance and facility management. 

img

Axiom Landbase

Related posts

Inauguration of Dwarka Expressway by PM Modi poised to uplift Gurugram’s property market

Prime Minister Narendra Modi has finally inaugurated the Haryana section of the Dwarka Expressway....

Continue reading
by Axiom Landbase

Chintels India Hands Over Two Land Parcels Valued at Rs 121.82 Crore near Dwarka Expressway to Sobha Group

Gurugram-based real estate developer Chintels India has also transferred the ownership of two land...

Continue reading
by Axiom Landbase

Gurugram Property Rates could see a potential 70% increase; here’s the reason why

The property process in Gurugram might see an unpredicted hike as a new collector rate has been...

Continue reading
by Axiom Landbase
whiteland-Aspen

ENQUIRE NOW