Oberoi Realty, a Mumbai-based real estate company, has entered the Delhi-NCR property market by acquiring nearly 15 acres of land in Gurugram for Rs 597 crore. The company executed an agreement for sale with Ireo Residences Company Pvt Ltd for the land at Sector 58, Gurugram. Oberoi Realty plans to develop a luxury residential group housing project on this land parcel, marking its foray into the National Capital Region (NCR) region. The transaction includes monetary consideration and area allocation for existing homeowners and others. The company has reported a 17% decline in sale bookings for the second quarter of the fiscal year.
Oberoi Realty Acquires 15-Acre Land in Gurugram for Rs 597 Crore
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