Oberoi Realty forays into NCR with township project.

Having established a significant presence in Mumbai, Oberoi Realty has entered the residential market in north India. The realtor, which recently acquired Tata Steel's 25-acre Borivali land parcel for Rs. 1,150, has signed a memorandum of understanding (MoU) for a township project in National Capital Region (NCR).

Speaking exclusively to dna, Vikas Oberoi, chairman and managing director, Oberoi Realty, said, 'Yes, I have an MoU in place. It's an interesting project, but we will take it to market when ready for launch. It's a township with development potential of approximately five million square feet.'

The realtor however did not share further details on the township and related timelines for its launch into the market. With this MoU in place, Oberoi Realty now joins other city-based realtors such as Tata Housing and Godrej Properties that have launched premium residential projects in the Delhi-NCR market.

DNA