NeoLiv ties up with Royal Green Realty to develop Rs 600 cr housing project

Real estate firm NeoLiv has tied up with Royal Green Realty to jointly develop a 20-acre housing project at Kundli-Sonipat in Haryana with an estimated revenue potential of more than Rs 600 crore.

The company on Tuesday announced its entry into the North India market through a joint development partnership with Royal Green Realty. The residential project, located in Kundli-Sonipat Master Plan, will be spread over a 20-acre area.

"The 20-acre development with a gross development value of Rs 600 crore+ will feature premium villas, independent floors, custom-designed plots and an internationally designed clubhouse," NeoLiv said in a statement.

Mohit Malhotra, Founder and CEO of NeoLiv, said, this acquisition represents a significant milestone for NeoLiv, as we announce our first project in the NCR region.

"Backed by UHNI (ultra high net worth individual) investors through our Sebi-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are dedicated to delivering exceptional living experiences to our customers," he added.

To expand business amid strong housing demand, real estate developers are buying land outright and also partnering with landlords to construct real estate projects.

Sonipat, strategically located at the intersection of the Delhi peripheral road and a key artery to Northern India, is rapidly emerging as a key hub in the National Capital Region (NCR), the company noted.

NeoLiv was founded by Mohit Malhotra (former MD and CEO of Godrej Properties) and industry experts in partnership with 360 ONE, a wealth firm with over USD 50 billion in assets under management.

All NeoLiv projects are backed by a Sebi-regulated AIF Fund, ensuring financial security and timely project completion for customers.

Established in 2018, Royal Green Realty is run by Yashank Wason and Varun Kumar Makhija, Royal Green Realty strives to elevate the standards of residential, commercial and Industrial developments since its inception.