Oberoi Realty invests over Rs 268 crores for development of RLDA's land in Bandra
Real estate developer Oberoi Realty is investing Rs 268.50 crore in the development of the Railway Land Development Authority's (RLDA) land in Bandra East, Mumbai. The investment is made by the firm by subscribing to equity shares of its wholly-owned subsidiary, Centerstage Realty, on a rights basis.
The firm emerged as the highest bidder for RLDA's land spread over 45,371 sq metres, or about 11 acres, for a lease of 99 years.
Also Read: RLDA's Mumbai land parcel: Oberoi Realty emerges as highest bidder