Residential real estate platform NeoLiv has entered into an agreement to acquire 12 acres of land in Alibaug near Mumbai, with a plan to develop a mixed-use villa project. The deal marks the developer’s foray into the Mumbai Metropolitan Region (MMR). The proposed development, with an option to extend up to 20 acres will have a mix of premium villas and plots. It's projected gross value is more than Rs 400 crore.

The land parcel is located within a 20-minute drive from the Mandwa Ferry Terminal, the key passenger transport link to South Mumbai, and surrounded by premium neighbourhoods.

Prior to this, in August, NeoLiv had announced a joint development project spread over 20 acres with a gross development value (GDV) of Rs 600 crore in north India. 

With various infrastructure projects underway, travel time is expected to decrease from over three hours to just over an hour. Key infrastructure projects such as the Virar-Alibaug corridor, roll-on-roll-off (RORO) service from Mumbai, Mumbai Trans-Harbour Link (MTHL) are expected to stimulate development and investment in the region.