Oberoi Realty Acquires 6.4 Acres Land In Thane For Rs 196 Cr
Oberoi Realty has completed the acquisition of land admeasuring approximately 6.4 acres (about 25,700 sq meters) for ~Rs. 196 crore, which has been paid in its entirety. In May 2023, the company had entered into a memorandum of understanding with NRB Bearings (NRB) for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon. The above land was contiguous to the existing lands owned by the company admeasuring about 68 acres (approximately 2,72,344 sq meters). The company has now completed the acquisition and consolidation of contiguous pieces of both land parcels. In November 2023, it had executed an agreement for sale with Ireo Residences Company and others for acquiring land admeasuring approximately 14.816 acres equivalent to 59,956.20 sq meters at Sector 58, Gurugram. The consideration for the transaction was in the form of event/ time linked monetary consideration of upto Rs. 597 crore, and upto a certain area in the project for the existing homeowners and others
Tags : Oberoi Realty contiguous Ireo Residences NRB Bearings homeowners