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Piramal Realty inks joint development pact for 2.2 million sq ft in Mahim

Last year, Piramal Realty entered into an agreement with Omkar Realtors to develop a residential project spread over 2 million sq ft in south Mumbai’s Mahalaxmi locality. In 2015, Omkar had received the mandatory majority consent from eligible slum dwellers and tenants to redevelop this Dhobi Ghat slum area near the Mahalaxmi railway station.

ET Bureau|
Dec 12, 2019, 04.03 PM IST
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Agencies
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This is the second such association between Piramal Realty and Omkar Realtors.
MUMBAI: Piramal Realty, the real estate development arm of the Piramal Group has entered into a joint development agreement with Omkar Realtors & Developers for a residential project in Mahim.

The company is looking to develop 2.2 million sq ft over 4 acres and plans to invest over Rs 3,000 crore over the next few years for this development.

This is the second such association between Piramal Realty and Omkar Realtors.

Last year, Piramal Realty entered into an agreement with Omkar Realtors to develop a residential project spread over 2 million sq ft in south Mumbai’s Mahalaxmi locality. In 2015, Omkar had received the mandatory majority consent from eligible slum dwellers and tenants to redevelop this Dhobi Ghat slum area near the Mahalaxmi railway station.

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