Piramal Realty to invest Rs 3,000 crore in Mumbai
Piramal Realty, the real estate unit of Piramal Group, has entered into a joint development agreement with another local builder Omkar Realtors & Developers to develop a residential project in Mumbai’s Mahim area with a total investment of around ₹3000 crores.
This is the second time both the firms entered into such a partnership, the first one is a luxury housing project at Mahalakshmi, a neighborhood in south Mumbai.
Under the existing partnership, Piramal plans to develop 2.2 million square feet over 4 acres in Mahim, making it the residential projects in the area, Piramal Realty said in a statement.
“At Piramal Realty, we are excited to develop this prime parcel which is not only a few minutes from the sea link but also enjoys beautiful views of the sea, mangroves and other open spaces. With the opening of several world-class malls, restaurants, hotels, schools, and theatres, BKC will this year become the social and cultural nerve center of the city,” said Anand Piramal, founder, Piramal Realty.