Oberoi Realty Enters in to Joint Venture Deal in Thane, Mumbai

Oberoi Realty Enters in to Joint Venture Deal in Thane, Mumbai

Oberoi Realty, a leading Indian developer, has partnered for a large-scale residential project in Thane’s Kolshet area. Oberoi Realty has signed a Joint Venture Agreement in Thane, Mumbai for 18.3 acres Land to develop a residential project.

Project Details:

• Location: Kolshet, Thane
• Land Area: 18.3 acres
• Project Type: Residential
• Estimated Development Potential: Over 4 million sq ft
• Estimated Revenue: Rs 5,000 crore

Partnership and Revenue Sharing Deal in Joint Venture Deal :

• Oberoi Realty will co-develop the project through a revenue-sharing agreement with the landowner.
• The landowner will receive 23% of net realisations from the project.
• Oberoi Realty has also made an upfront payment of Rs 50 crore as part of the agreement.

Project Timeline and Approvals:

• The land already has development approval, streamlining the project’s progress.
• While details haven’t been finalized, Oberoi Realty may submit a revised development plan in the near future.

Market Potential:

• Based on current property rates, this project is expected to generate significant revenue for Oberoi Realty.

This new project strengthens Oberoi Realty’s presence in Thane and signifies its commitment to developing high-quality residential spaces in the Mumbai Metropolitan Region.

 

 

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in