Omkar Realtors & PiramalRealty may join hands
City-based realty players Omkar Realtors and Anand Piramal led Piramal Realty are close to extend their existing partnerships to a new project in Mahim.
The companies are in advanced stages of discussions to jointly develop a 5-acre prime sea-facing property in Mahim, sources said, adding if it goes through, this will be the second joint venture agreement between the two after the iconic Dhobi Ghat redevelopment project at Mahalaxmi spread across 12 acre.
Earlier Omkar had also entered into a joint development agreement with L&T Realty for a 17-acre, redevelopment project in the Parel area, called Crescent Bay, and with Godrej Properties to develop a 4.25 acre property in the tony Bandra West area.
“The project is being undertaken under the slum rehabilitation scheme and Omkar and Piramal will jointly develop the property,” one of the sources told.