Oberoi Realty wants to set up residential complex in Mumbai

Oberoi Realty has successfully concluded the acquisition of a 6.4-acre land parcel in Thane, Maharashtra, for a sum of Rs 196 crore. The company initiated this strategic move through a memorandum of understanding (MoU) with NRB Bearings in May 2023, outlining the terms and conditions for the acquisition of lands situated at Pokhran Road 2, Thane.

Following the fulfillment of the specified terms and conditions within the MoU, the registry of the land has been completed in Oberoi Realty's favor. This recent acquisition contributes to the development of a forthcoming real estate project in the district. Notably, the company's focus on luxury housing projects across the nation aligns with its ongoing commitment to delivering high-quality real estate solutions.

The Thane acquisition represents a pivotal step for Oberoi Realty, marking the consolidation of contiguous land pieces totaling approximately 75 acres at the Pokhran Road 2 location. This strategic expansion underscores Oberoi Realty's dedication to enhancing its real estate portfolio and underscores its position as a key player in the luxury housing sector.

For the latest updates on Oberoi Realty's subsequent projects or any further developments, it is recommended to refer to recent news sources or Oberoi Realty's official communications for the most up-to-date information.

News by Rahul Yeligetti