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Oberoi Realty Strategically Acquires 14.8 Acres in Gurugram For 597 Crores

Oberoi Realty Strategically Acquires 14.8 Acres in Gurugram For 597 Crores

Oberoi Realty has inked a pivotal agreement with Ireo Residences and other stakeholders, bringing a substantial 14.81-acre parcel in Gurugram’s sector 58. The regulatory filing revealed the transaction’s total value at an impressive rs 597 crore, signaling Oberoi Realty’s strategic expansion in the National Capital Region (NCR).

Mumbai-based real estate developer Oberoi Realty has inked a pivotal agreement with Ireo Residences and other stakeholders. It will also secure a substantial 14.81-acre parcel in Gurugram’s sector 58. This would also reveal the transaction’s total value at an impressive rs 597 crore, signaling Oberoi Realty’s strategic expansion in the National Capital Region (NCR). 

This would also be significant for its acquisition, structured around event and time-linked milestones. It will also showcase Oberoi Realty’s planning and execution strategy. Moreover,  this also includes provisions within the agreement, allocating a specific area within the project for existing homeowners and others. It would be highlighting the company’s commitment to community-centric development. 

Oberoi Realty has anticipated entitlement from this venture which has a reach of up to 2.6 million square feet of floor area ratio, offering to prevailing rules, regulations, and policies. This strategic move marks Oberoi Realty’s imminent entry into the NCR and underscores its vision for sustainable and upscale real estate development. 

With the completion of the agreement, Oberoi Realty has officially taken possession of the prime land in Gurugram. The milestone sets the stage for the company’s ambitious plans to shape the landscape of Gurugram through the development of a luxury residential group housing project 

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Axiom Landbase

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