Oberoi Realty Buys Prime Land in Gurugram

One of the most celebrated real estate development companies in India, Oberoi Realty is stepping into the National Capital Region (NCR) real estate market.

Its entry into NCR is marked by the acquisition of an estimated 14,816 acres of premium land, which is equivalent to 59,956.20 square metres, situated in Sector 58, Gurugram, Haryana.

This calculated manoeuvre ensues from a fruitful sale agreement reached with Ireo Residences Company and other stakeholders, representing a capital outlay of Rs 597 crore. To ensure a comprehensive and equitable approach, the consideration consists of a dynamic combination of time-linked and event-linked monetary compensation and provisions for existing householders and others, including a designated area within the project.

With an estimated Floor Area Ratio (FAR) of approximately 2.6 million square feet, Oberoi Realty is well positioned to capitalise on this endeavour in strict adherence to prevailing policies, regulations, and rules.

With this prime land, Oberoi Realty plans to construct a luxury residential project in Gurugram.