Oberoi Realty completes acquisition of land parcel in Thane for around ₹196 crore

December 6th, 2023

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Listed real estate company Oberoi Realty has completed the acquisition of a 6.4 acre land parcel in Thane, near Mumbai, for around ₹196 crore, the company said in a regulatory filing.

The company has entered into a Memorandum of Understanding (MOU) with NRB Bearings Limited (NRB) for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, along with the structure, it said.

The company has on December 5, 2023 registered conveyance deed of the said land admeasuring approximately 25,700 square meters (approximately 6.4 acres) (as per title deeds) in its favour and also taken possession of the said property, the company said.

The total consideration for acquisition of the said property is around Rs. 196 crore, which has been paid in its entirety.

“With the above, the Company has completed the acquisition and consolidation of contiguous pieces of lands admeasuring around 75 acres situated at Pokhran Road 2, Thane, Maharashtra,” the company said.

Source: hindustantimes.com

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