Home » News » Oberoi Realty in Rs100 cr land deal/news09012012
Oberoi Realty in Rs100 cr land deal/news09012012
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Monday, January 09, 2012
Real estate company, Oberoi Realty is close to signing a deal to acquire 8.5 lakh square feet land in Bandra Reclamation area, Mumbai. The deal could be worth Rs100 crore. Oberoi Realty is negotiating with Om Metals Infraprojects, the company that owns that land in Bandra Reclamation.
The company is planning to launch a new project worth Rs255 crore, it is learnt. Oberoi Realty specializes in residential projects and will be building a luxury project here. The land in Bandra currently has slum tenants.
OM Metals will retain 50% ownership rights in the project, sources said.
Oberoi Realty has not given any comments, while Om Metals said that they are in talks with the developer and would be looking at a higher valuation.
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