Mumbai-based fund-led real estate developer NeoLiv has acquired a 17.5-acre land parcel in Khopoli, near Mumbai, for a ₹150-crore plotted development and villas project, as part of its strategy to tap into the growing demand for premium second homes and lifestyle-led living in the Mumbai Metropolitan Region (MMR).

The project, with a gross saleable area of 0.36 million sq ft, will offer a mix of residential plots and villas along with amenities such as a clubhouse. Strategically located within an hour’s drive from the upcoming Navi Mumbai International Airport and the Mumbai Trans Harbour Link, and close to entertainment destinations like Imagicaa Theme Park, the development is positioned in the fast-emerging Panvel-Khalapur-Khopoli belt, which has been witnessing heightened investor and homebuyer interest post-COVID-19 due to its infrastructure connectivity and scenic appeal.

“This acquisition represents a significant milestone for NeoLiv as we announce our key plotted development project in the most sought-after micro-market in the country. Backed by UHNI investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are committed to delivering exceptional living experiences that will set new benchmarks for residential developments,” Mohit Malhotra, founder and CEO of NeoLiv, said.

According to the company, the project is just an hour’s drive from the upcoming Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL), also known as Atal Setu. It is also very close to the entertainment hub Imagicaa Theme Park.

The company said that the Panvel-Khalapur-Khopoli belt has emerged as the most upcoming belt in the Mumbai Metropolitan Region (MMR) due to its huge infrastructure and economic boasts, including its proximity to highways like Mumbai-Pune and Mumbai-Goa.

Post-COVID-19, several real estate developers in Mumbai and Pune have launched plotted and villa development projects across Maharashtra, catering to the growing demand for second homes.

Popular locations include Lonavala and Khandala near Pune, Dapoli in the Konkan region, Alibaug in Raigad district, Manor in Palghar, Igatpuri, Kasara Ghat near Nashik, and the Karjat-Neral belt near Mumbai.

Meanwhile, in August 2024, Godrej Properties Ltd announced that it had acquired an approximately 90-acre land parcel in Khalapur—Raigad, Maharashtra. The parcel is estimated to have a development potential of approximately 1.7 million square feet of saleable area, comprising primarily residential plotted development.