Oberoi Realty Limited enters into redevelopment of land at Adarsh Nagar, Worli

Oberoi Realty Limited has today entered into a Development Agreement for development and redevelopment of land admeasuring approximately 12,790 square meters, situate at Adarsh Nagar, Worli, Mumbai City (said Land).

The said Land is leased to Maharashtra Housing and Area Development Authority and currently, there are 7 buildings on the said Land with a total of 504 flats.

The Company expects to currently generate a free sale component of around 6.24 lakh square feet (RERA Carpet area) from the development and redevelopment of the said Land, as per the extant provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034.

Shares of Oberoi Realty Limited was last trading in BSE at Rs. 1498.90 as compared to the previous close of Rs. 1468.75. The total number of shares traded during the day was 12851 in over 1253 trades.

The stock hit an intraday high of Rs. 1514.00 and intraday low of 1459.55. The net turnover during the day was Rs. 19214361.00.

Source : Equity Bulls

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OberoiRealty INE093I01010 DevelopmentAgreement RedevelopmentofLand AdarshNAgar Worli