NEW DELHI: Oberoi Realty has executed an agreement for development of land admeasuring approximately 81.05 acres (3,28,010 sq meters), situated at village Tekali, Alibaug.
Out of the above land, land admeasuring approximately 8.6 acres (34,803 sq meters) will be earmarked and conveyed to the company for construction of high-end luxury star hotel / resort to the extent of FSI admeasuring 30,000 sq meters.
On the balance land admeasuring 72.45 acres (2,93,207 sq meters), the company intends to construct approximately 150 high end, fully serviced, branded residential villas by consuming FSI of approximately 1,20,000 sq meters.
The consideration for the transaction to the landowners is in the form of revenue and area share from the
said residential project.
