Residential real estate platform NEOLIV, founded by former Godrej Properties’ MD and CEO Mohit Malhotra, expects to raise the entire $150 million (₹1,500 crore) for its maiden fund in the next 12 months. Separately, the company has raised ₹300 crore for the first close of the fund, Inliv Real Estate Fund.
The proceeds of the maiden fund, Inliv Real Estate Fund, will be used to develop middle-income residential properties in Mumbai Mumbai Metropolitan Region and Delhi National Capital Region and plotted opportunities in tier-II cities.
NEOLIV was founded by Malhotra and 360 ONE (a wealth and alternates-focused asset management firm with $50 billion AUM).
“The residential sector has been posting a phenomenal growth trajectory since 2021, and it will continue to be strong for the next 8-10 years. There are a lot of tier-II developers who need funds, and that’s where our investments would be made,” NEOLIV founder & CEO Malhotra said.
“With a robust pipeline of projects, we aim to deploy the capital within the next few months,” he said, adding the investments for the first came in from ultra-high networth individuals and family offices.
NEOLIV will fund 3-4 projects from the first close, and about 8-10 projects from the maiden fund. About 50% of the capital raised will be allocated to plotted development.
The firm has identified land parcels across locales such as Lucknow, Jaipur, Sonipat, Alibaug, Chembur (in Mumbai) and in the western suburbs of Mumbai. Discussions for their acquisition are at an advanced stage and at least one or two of them will be closed soon, Malhotra added.