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.