NeoLiv to invest about Rs 500cr to build 76-acre housing project near Mumbai

Realty firm NeoLiv plans to invest Rs 500 crore to develop a 76-acre housing project near Mumbai, with a revenue potential of around Rs 800 crore.

Realty firm NeoLiv plans to invest around Rs 500 crore to develop a 76-acre housing project near Mumbai, as part of its expansion plan.

In a statement on Tuesday, the company said it has acquired a 76-acre land parcel in Panvel Khopoli belt in Mumbai Metropolitan Region (MMR). This will be the company's third project by the company in this region.

NeoLiv did not disclose the land cost.

The project, comprising of housing plots and villas, has an estimated saleable area of 13 lakh sq ft with a revenue potential of around Rs 800 crore.

NeoLiv will invest around Rs 500 crore to develop this project.

The company has launched two housing projects in Delhi-NCR and plans to launch three projects in MMR this fiscal.