NeoLiv, a real estate firm, has entered into a management agreement to build a 62-acre township in Faridabad, which is expected to have a gross development value (GDV) of around Rs. 2,300 crore. The township will have custom-designed plots for premium villas and floors as well as retail space in Faridabad.
Located in Sectors 98 and 99A of Faridabad, adjacent to the Delhi-Mumbai Industrial Corridor (DMIC), the land parcel is approximately a 30-minute drive from Delhi and Noida.
The goal is to create a master-planned, world-class residential community dedicated to modern urban living.
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The company also did not mention the total investment planned for the township, or the number of plots and villas to be built under the project.
NeoLiv, a wealth firm with $65 billion in assets under management, was co-founded by Mohit Malhotra (formerly MD and CEO of Godrej Properties) along with industry experts and partners 360 ONE. All NeoLiv projects are backed by a SEBI regulated AIF Fund.
Also Read: NeoLiv Begins Villa Project Near Mumbai
Commenting on the announcement, Mohit Malhotra, Founder and CEO of NeoLiv, said, "This partnership represents a significant milestone for NeoLiv as we announce our largest foray till date in one of the fast-growing regions of NCR. This partnership shows the strong belief on execution excellence that NeoLiv team exhibits with its 150+ years of experience of managing 200 mn sq ft of development. With the operational Delhi Mumbai corridor, Faridabad has emerged as one of the fastest growing micro-markets of NCR.”
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