According to a regulatory filing by Oberoi Realty, its shareholders approved the purchase or acquisition of residential properties in the Oasis Realty-built property “Three Sixty West” in December for up to Rs 4,000 crore.
A premium property development in Worli, Mumbai, has sold 63 residential units totalling more than 5 lakh square feet to Mumbai-based Oberoi.
According to a regulatory filing by Oberoi Realty, its shareholders approved the purchase or acquisition of residential properties in the Oasis Realty project “Three Sixty West” for up to Rs 4,000 crores in December.
He continued, “It was a significant linked party transaction.”
Oberoi Realty announced on Saturday that it has completed the acquisition of residential properties for the project.
Oberoi Realty provided specifics, stating that the business had acquired 5,23,039 square feet of carpet space.
The cost of buying these flats, including stamp duty and other fees, is Rs 204 crore. Oasis Realty has paid off a portion of its debt in the amount of Rs 605 crores.
As a result, Oberoi Realty claimed that it had recouped all of the money it had invested in the construction project and other deposits, as well as its cut of the profit generated by Oasis Real Estate.
Oberoi Realty announced on Friday that it has paid Rs 192 crore for an 8-acre plot of property in Thane, Maharashtra.
It has successfully completed the deal with Blue Star Ltd (BSL) to purchase the land in Thane, Maharashtra, which is approximately 32,204 square metres (or 8 acres).
