Oberoi Realty signs MoU to acquire 6.4 acres land in Thane

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.