Mumbai-based Real Estate Startup 'Neoliv' Secures a deal of Rs.300 crore
The real estate platform Neoliv which is founded by former MD and CEO of Godrej Properties Mohit Malhotra in 2023 and backed by 360 ONE, has recently secured a deal of Rs.300 crore in its first fund, with a total corpus of Rs.1,500 crore.
The company has announced that the first scheme of its Securities and Exchange Board of India (SEBI) registered category II Alternative Investment Fund, ‘Inliv Real Estate Fund’ has signed this deal of its maiden fundraising.
In an official press release the company quoted, “The first of its kind residential equity fund has garnered participation from family offices and UHNWI’s (ultra high net worth individuals) across the country. The funds will be utilized to develop high quality, middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.”
This deal is the first equity-based real estate alternative investment fund in several years, as most of the funds are debt-based. Malhotra assured that, this would deliver a high return to the investors. The company has conducted several roadshows in major cities of India including Mumbai, Delhi-NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur, and Bangalore.
The founder, MD & CEO of 360ONE, Karan Bhagat stated, “We are happy to be the sole manager and advisor for NeoLiv’s maiden fundraise, which saw active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities. The roadshows for the fundraise were held in Mumbai, Delhi- NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur and Bengaluru.”
The company is planning to utilize the fund to develop middle-income residential properties in key areas such as Mumbai MMR and Delhi NCR, as well as to explore plotted development opportunities in tier II cities. Also they decided to use 50% of the capital will be allocated for the plotted development.
According to Malhotra, NeoLiv is exploring opportunities for plotted developments in tier II cities like Sonipat, Lucknow, Panipat, Jaipur, Alibaug, and Nashik, and considering villa and low-rise projects in Mumbai and Gurgaon. Land parcels have already been identified and they will start to finalize the deals in following few months.
The company is targeting to launch 10 residential projects in the next couple of years, with a mix of six plotted and four group housing projects, primarily in Delhi-NCR and Mumbai. Malhotra also noticed that, during his 12 years tenure t Godrej Properties sales grew 30 times, while in his last six years as managing director and chief executive officer, market capitalization of the company grew six times.
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The company has announced that the first scheme of its Securities and Exchange Board of India (SEBI) registered category II Alternative Investment Fund, ‘Inliv Real Estate Fund’ has signed this deal of its maiden fundraising.
In an official press release the company quoted, “The first of its kind residential equity fund has garnered participation from family offices and UHNWI’s (ultra high net worth individuals) across the country. The funds will be utilized to develop high quality, middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.”
This deal is the first equity-based real estate alternative investment fund in several years, as most of the funds are debt-based. Malhotra assured that, this would deliver a high return to the investors. The company has conducted several roadshows in major cities of India including Mumbai, Delhi-NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur, and Bangalore.
The founder, MD & CEO of 360ONE, Karan Bhagat stated, “We are happy to be the sole manager and advisor for NeoLiv’s maiden fundraise, which saw active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities. The roadshows for the fundraise were held in Mumbai, Delhi- NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur and Bengaluru.”
The company is planning to utilize the fund to develop middle-income residential properties in key areas such as Mumbai MMR and Delhi NCR, as well as to explore plotted development opportunities in tier II cities. Also they decided to use 50% of the capital will be allocated for the plotted development.
According to Malhotra, NeoLiv is exploring opportunities for plotted developments in tier II cities like Sonipat, Lucknow, Panipat, Jaipur, Alibaug, and Nashik, and considering villa and low-rise projects in Mumbai and Gurgaon. Land parcels have already been identified and they will start to finalize the deals in following few months.
The company is targeting to launch 10 residential projects in the next couple of years, with a mix of six plotted and four group housing projects, primarily in Delhi-NCR and Mumbai. Malhotra also noticed that, during his 12 years tenure t Godrej Properties sales grew 30 times, while in his last six years as managing director and chief executive officer, market capitalization of the company grew six times.
