Oberoi Realty Limited has executed a Development Agreement for development of land admeasuring approximately 81.05 Acres equivalent to 3,28,010 square meters, situated at village Tekali, Taluka Alibaug, District Raigad, Maharashtra.
Out of the above land, land admeasuring approximately 8.6 Acres equivalent to 34,803 square meters shall be earmarked and conveyed to the Company for construction of high end luxury 5 (five) star hotel / resort to the extent of FSI admeasuring 30,000 square meters.
On the balance land admeasuring 72.45 Acres equivalent to 2,93,207 square meters the Company intends to construct approximately 150 high end luxury, fully serviced, branded residential villas by consuming FSI of approximately 1,20,000 square meters.
The consideration for the transaction to the landowners is in the form of revenue and area share from the said residential project.
Upon execution of the above agreement, the Company has taken physical possession of the above land.
Shares of Oberoi Realty Limited was last trading in BSE at Rs. 2264.45 as compared to the previous close of Rs. 2246.25. The total number of shares traded during the day was 11360 in over 1692 trades.
The stock hit an intraday high of Rs. 2289.55 and intraday low of 2235.20. The net turnover during the day was Rs. 25716715.00. |
