Oberoi Realty has entered into a memorandum of understanding with NRB Bearings (NRB) for acquiring the land admeasuring approximately 25,700 sq meters (about 6.4 acres) (as per title deeds) located at Pokhran Road 2, Thane, the company said in a BSE filing.
The company has also made payment of part consideration amount to NRB, and the balance consideration shall be paid on and/ or before the closing of the transaction.
The above land is contiguous to the existing lands owned by the company admeasuring approximately 2,72,344 sq meters (about 68 acres), it said in the regulatory filing.
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Ruchi Mane
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Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.