Oberoi Realty Clarifies RERA Approval Status for Gurugram Project
Oberoi Realty Ltd has responded to a clarification sought by BSE regarding a news item about RERA approval for its Gurugram project. The company confirmed that the project is registered with Haryana RERA, though the registration number and certificate are still being processed. This RERA registration is a standard procedural milestone, not an unusual approval. The company also reiterated its earlier disclosure about acquiring the 14.8-acre Gurugram land in November 2023 for a luxury residential project, which has been discussed in earnings calls. Oberoi Realty stated it is unaware of any unannounced information that could explain recent price movements and will make a formal announcement upon project launch.
Key Highlights
- RERA registration for Gurugram project is in process, not yet finalized.
- RERA approval is a standard procedural milestone for real estate projects.
- Company previously disclosed land acquisition and project plans in Nov 2023.
- No undisclosed information to explain recent stock price movement.
- Formal announcement planned at project launch.
Price Impact
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