The 6.4-acre property tract owned by NRB Bearings Limited in Mumbai has been acquired by real estate developer Oberoi Realty for a sum of Rs 196 crore, the firm announced in a regulatory filing on December 5.
With this, the business declared that it has finished acquiring and consolidating adjacent parcels of land totaling 75 acres at Thane’s Pokhran Road 2.
For the land parcel, the firm and NRB Bearings Limited had inked a memorandum of understanding (MoU) in May.
The firm developer told exchanges that on December 5, after the terms and conditions of the Memorandum of Understanding were fulfilled, the company registered a conveyance deed of “the said land admeasuring approximately 25,700 square meters (approx. 6.4 acres) (as per title deeds) in its favor and also took possession of the said property.” The property was purchased by the firm for Rs 196 crore.
