Omkar, Piramal joining hands to develop Mahim property


MUMBAI, Apr 14: 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 inadvanced stages of discussions to

jointly develop a 5-acre prime sea-facing property in Mahim,

sources said, adding if it goes through, this willbe the

second joint venture agreement between the two afterthe

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 a17-acre,

redevelopment project in the Parel area, called Crescent Bay,

andwith Godrej Properties to develop a4.25 acre property in

the tony Bandra Westarea.

“The project is being undertaken under the slum

rehabilitation scheme and Omkar and Piramal will jointly

develop the property,” one of the sources told PTI.