December 6, 2023: Real estate developer Oberoi Realty has completed the acquisition of a 6.4-acre land parcel in Thane, the company said in a regulatory filing on December 5, 2023. The company paid Rs 196 crore to acquire the land parcel from NRB Bearings. With this deal, Oberoi Realty has completed the acquisition and consolidation of contiguous pieces of lands measuring 75 acre at Pokhran Road 2 in Thane.
In May 2023, the company had signed a memorandum of understanding (MoU) with NRB Bearings for the acquisition of this land parcel, together with the structures thereon. After the terms and conditions of the MoU were met with, the company successfully registered the conveyance deed of the land measuring approximately 25,700 square metre (6.4 acre) on December 5, 2023, and took possession of the property. Oberoi Realty had made partial payment to NRB Bearings earlier and the balance amount has been paid now with the closing of the transaction.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
