Oberoi Realty has clarified queries from stakeholders regarding its bid submitted to the Railway Land Development Authority (RLDA). The company confirmed it will bear the entire cost of development and construction, with payments to RLDA continuing until 2038, based on the higher of projected or actual gross revenues.
Oberoi Realty Ltd has issued a clarification addressing stakeholder concerns over its bid submitted to the Railway Land Development Authority. The company stated that it will fully finance the development and construction of the proposed project, ensuring no external cost burden on RLDA.
Additionally, Oberoi Realty confirmed that amounts payable to RLDA will extend until 2038. These payments will be structured as a share of the higher between projected gross revenues or actual gross revenues, ensuring transparency and accountability in revenue-sharing arrangements.
Key highlights from the announcement include
-
Oberoi Realty clarifies bid terms submitted to RLDA
-
Company to bear entire cost of development and construction
-
Revenue-sharing payments to RLDA structured until 2038
-
Payments based on higher of projected or actual gross revenues
-
Clarification aims to address stakeholder queries and reinforce transparency
Industry experts note that Oberoi Realty’s clarification strengthens confidence among stakeholders and highlights its commitment to long-term partnerships in infrastructure and real estate development. The move is expected to enhance trust and support the company’s growth trajectory in large-scale projects.
Sources: Reuters, Economic Times, Business Standard, Mint