V Raheja Group inks 7.5 acre Joint Venture Deal in Andheri, Mumbai with Omkar Realtors

V Raheja Group inks 7.5 acre Joint Venture Deal in Andheri, Mumbai with Omkar Realtors

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10 year(s) ago

Omkar Realtors and V Raheja Group Announce JV Deal in Andheri for Luxury Project. Real estate developers Omkar Realtors and V Raheja Group have joined forces to develop a high-end residential project in Andheri, Mumbai. V Raheja Group inks 7.5 acre Joint Venture Deal in Andheri, Mumbai with Omkar Realtors.

Project Highlights:

  • Location: 7.5-acre land parcel on the Western Express Highway, Andheri
  • Project Name: Kenspeckle
  • Slum Rehabilitation:
    • Over 2,000 slum families to be resettled on nearly 3.5 acres as part of the project’s commitment to urban renewal.
  • Luxury Development:
    • Remaining land (estimated at 4 acres) will be developed into a high-end residential project.
    • Total saleable area: 1.25 million sq ft
    • Expected revenue: Over Rs 2,000 crore
  • Joint Venture Structure:
    • Revenue sharing model, not based on a division of saleable space.
    • Joint construction efforts.
    • Omkar Realtors will handle sales, marketing, and liaison activities.

Statement from Babulal Varma, Managing Director, Omkar Realtors:

  • Confirms the revenue sharing model and division of responsibilities within the joint venture.

Overall Significance:

This collaboration brings together Omkar Realtors’ expertise in marketing and sales with V Raheja Group’s land ownership to create a large-scale luxury development project in Andheri. The project also contributes to the city’s slum rehabilitation efforts.

 

 

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

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