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Time of India
a day ago
- Business
- Time of India
NeoLiv sells all residential plots in Haryana project, generates over Rs 300 crore in revenue
AI generated image Realty developer NeoLiv has sold all 263 residential plots in its debut project 'NeoLiv Grand Park' located in Kundli-Sonipat, Haryana, garnering over Rs 300 crore in sales. In a statement issued Tuesday, the Mumbai-based firm said the project, spread across 19.46 acres, witnessed demand nearly four times the available inventory, underscoring strong buyer interest, reported PTI. "The overwhelming response to NeoLiv Grand Park reaffirms buyers' preference to place their trust in professionally driven and fund-backed real estate developers with a deep understanding of consumer preference, meticulous planning and high focus on delivering high-quality products," said Mohit Malhotra, Founder and CEO of NeoLiv. The company was co-founded by Malhotra, the former Managing Director and CEO of Godrej Properties, along with other real estate veterans in partnership with wealth management firm 360 ONE. All NeoLiv projects are supported by a SEBI-regulated Alternative Investment Fund (AIF), providing customers with financial security and assurance of timely completion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
2 days ago
- Business
- Business Standard
NeoLiv sells 263 residential plots for over ₹300 crore in Haryana
Realty firm NeoLiv has sold 263 plots for over Rs 300 crore in its residential project in Kundli-Sonipat, Haryana. In a statement on Tuesday, Mumbai-based NeoLiv said it has sold all inventories in its first debut project 'NeoLiv Grand Park' at Kundli-Sonipat, Haryana, generating sales worth over Rs 300 crore. The project, spread across 19.46 acres, offered 263 plots for sale and had received 4 times interest. "The overwhelming response to NeoLiv Grand Park reaffirms buyers' preference to place their trust in professionally driven and fund-backed real estate developers with a deep understanding of consumer preference, meticulous planning and high focus on delivering high-quality products," Mohit Malhotra, Founder and CEO of NeoLiv, said. NeoLiv, founded by Malhotra (former MD and CEO of Godrej Properties) and industry experts in partnership with wealth management firm 360 ONE. All NeoLiv projects are backed by a SEBI-regulated AIF Fund, ensuring financial security and timely project completion for customers.
Hans India
14-05-2025
- Business
- Hans India
SEBI warns investors as Strata gives up SM REIT licence
Mumbai: The Securities and Exchange Board of India (Sebi) has issued a warning to investors regarding Strata, a commercial real estate platform founded by Sudarshan Lodha and Priyanka Rathore, after the company surrendered its licence as a small and medium real estate investment trust (SM REIT) due to a legal controversy. 'Pursuant to certain news reports and review of certain legal proceedings against the promoter of SM REIT, SEBI engaged with Strata SM REIT, its independent director, compliance and other officers and the trustee. After the engagement and discussions, Strata SM REIT has surrendered its certificate of registration as an SM REIT and will not hold out or represent itself as a SEBI-regulated intermediary,' SEBI said in a statement. 'This communication is being issued in the interest of investors advising them to exercise caution while dealing with the entity,' SEBI said. Strata had registered as a Small and Medium Real Estate Investment Trust (SM REIT), a new framework introduced by Sebi for fractional ownership platforms to offer real estate investment products. However, following certain concerns and discussions with Sebi, Strata has surrendered its registration. Strata received Sebi approval in January and had planned to launch six schemes during the current financial year. So far, it has not yet launched any SM REIT schemes nor migrated any pre-existing fractional real estate entities to the SM REIT framework, the SEBI statement added. The legal dispute involving SM REIT arose with a Tamil Nadu-based real estate firm engaged in acquiring and developing land for industrial and warehousing projects. According to the anticipatory bail order of the Madras High Court, a case was filed against Lodha for allegedly seeking information by impersonating as a SEBI official and creating a fake email ID under her name. However, Lodha's counsels denied the allegations and argued that as the complainant did not succeed in arbitration and other civil proceedings, it filed a 'false complaint' in order to 'arm-twist and give a criminal colour to the dispute.' 'In light of the ongoing matter, we have voluntarily surrendered our SM Reit licence without admitting or denying any wrongdoing, as a measure of abundant caution. Upon conclusion of the current litigation, we intend to apply for a fresh licence at a future date. This matter does not affect the existing investments with Everstrat,' Strata said in a statement on Wednesday.
The Hindu
14-05-2025
- Business
- The Hindu
SEBI warns investors of Strata SM REITS as it surrenders registration
Securities and Exchange Board of India (SEBI) warned investors of Strata SM REITS that the application to surrender registration was accepted by the market regulator. SEBI's decision follows 'certain news reports and review of certain legal proceedings against the promoter', according to a statement from SEBI. 'SEBI engaged with Strata SM REIT, its independent director, compliance and other officers and the trustee. Basis the engagement and discussions thereat, Strata SM REIT has surrendered its certificate of registration as an SM REIT and will not hold out or represent itself as a SEBI-regulated intermediary or SM REIT,' SEBI said in its release. Strata has not launched any scheme. Strata received license for SM REIT in January 2025.
