NeoLiv to develop Rs 2,300 cr township in Faridabad

New Delhi, Oct 9 (PTI) Realty firm NeoLiv will develop a 62-acre township in Faridabad, Haryana, with a revenue potential of Rs 2,300 crore, as it looks to expand business to meet rising demand for housing properties.

In a statement on Thursday, the company said it has entered into a management agreement for developing 62-acre of land at Sector 98, 99A in Faridabad The company will mainly offer housing plots and villas in this township project, which has an estimated gross development value of around Rs 2,300 crore.

NeoLiv did not mention the name of the landowner with whom it has signed a management agreement.

It did not disclose the number of plots and villas to be offered in this project, and has also not mentioned the total investment to develop this township.

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." NeoLiv is developing projects in the Mumbai Metropolitan Region (MMR) and Sonipat, Haryana. PTI MJH DR DR