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A real estate developer based in Mumbai Oberoi Reality has entered the National Capital Region (NCR) as the realty firm acquired 14.81 acres of land. Gurugram 597 crore in Haryana, according to documents obtained by CREMatrix, a real estate data analytics firm.
According to the documents, the land parcel is located near the Southern Peripheral Road (SPR) in Sector 58 of Gurugram, which is home to several luxury residential projects. gave Company Paid stamp duty of Rs 33.77 crore for the transaction. The land was acquired in November 2023 but the sale of the land took place on May 7, 2024.
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The land was acquired by Oberoi Realty from a consortium that includes Delhi NCR-based developer Ireo Residences and other firms.
There was no immediate response from the buyer and seller to questions about Money Control. This story will be updated once a response is received.
Also Read: DLF acquires 29 acres of land on Golf Course Extension Road in Gurugram for Rs 825 crore
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These deals mark Oberoi Realty's entry into Delhi NCR. According to real estate sources, the company is planning to develop a luxury group housing project on this land. The development potential of the land is estimated to be around 2.6 million square feet.
Great ticket deals
Delhi NCR, which includes Gurugram, has witnessed many large property purchases in the recent past. In January 2024, the real estate developer was listed. DLF LIMITED Acquired 29 acres of land on Prime Golf Course Extension Road in Gurugram with 7.5 million sq ft development potential for Rs 825 crore.
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Similarly, in March 2024, an online gaming company from Bangalore Gamecraft Has bought 8.61 acres of land in Gurugram, Haryana for Rs 90 crore.
In November 2023, Countrywide Promoters, a subsidiary of developer BPTP Group, bought a 5.24-acre parcel of land in Gurugram near the Dwarka Expressway for Rs 87.27 crore.