Omkar Realtors to enter into JV with Forum
Mumbai-based Omkar Realtors & Developers is in talks with Kolkata based Forum Projects to enter into a residential joint venture.
The two parties are en route to develop a two-lakh sq ft super luxury residential project off Bandra-Kurla Complex in Mumbai.
The project will mark Forum Projects’ entry into Mumbai’s prime realty market. The project is being proposed on a land parcel located behind Asian Heart Institute in Bandra-Kurla Complex, where there are 240 slums at present.
Under the agreement, both Forum Projects and Omkar Realtors will share built up space and revenue equally. While Omkar Realtors will be involved in land acquisition and various approvals, including slum dwellers’ consent for redevelopment, Forum Projects will be responsible for construction and marketing of the project.
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