NeoLiv's Luxury Plotted Project in Faridabad Achieves ₹1,251 Crore Sales in Just Six Hours
NeoLiv's Faridabad plotted project clocks ₹1,251 crore sales in hours
Business Standard
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NeoLiv, a Mumbai-based real estate developer, sold plots worth ₹1,251 crore (approximately $151 million USD) in its NeoLiv Golf One project in Faridabad, Haryana, within six hours of launch. The project features 285 luxury plots and has attracted significant interest from high-net-worth individuals and investors.
- 01NeoLiv sold plots worth ₹1,251 crore in six hours at NeoLiv Golf One in Faridabad.
- 02The project spans 47 acres and includes 285 plots priced between ₹2.88 crore and ₹9.94 crore.
- 03Demand was driven by high-net-worth individuals, investors, and non-resident Indians.
- 04NeoLiv plans to invest ₹500 crore in the project, expected to be completed by 2031.
- 05The success highlights a growing trend in plotted developments across India.
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NeoLiv, a real estate developer based in Mumbai, reported remarkable sales of ₹1,251 crore (approximately $151 million USD) within just six hours of launching its luxury plotted township, NeoLiv Golf One, in Faridabad, Haryana, India. The project spans around 47 acres and offers 285 plots ranging from 181 to 388 square yards. Prices for these plots are set at about ₹2 lakh per square yard, with total costs varying between ₹2.88 crore and ₹9.94 crore. The entire inventory was sold out on the first day, primarily due to high demand from high-net-worth individuals (HNIs), investors, and non-resident Indians (NRIs). NeoLiv plans to invest ₹500 crore in the project, which is expected to be completed by 2031. The development will be executed through a management contract with a regional partner. Mohit Malhotra, the founder and CEO of NeoLiv, noted that the operational Delhi-Mumbai Industrial Corridor has significantly boosted Faridabad's growth as a micro-market in the National Capital Region (NCR), leading to increased demand for premium plotted developments. This trend reflects a broader shift among developers towards plotted projects, which allow for quicker cash flow compared to traditional high-rise developments.
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The rapid sellout of luxury plots indicates a strong demand for premium real estate in Faridabad, which may lead to increased property values and investment in local infrastructure.
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