Omkar-L&T Realty building ₹4,500-cr project in Mumbai

Master in slum rehabilitation Omkar Realtors is negotiating with L&T Realty to jointly develop a 4.5-acre prime sea-front land parcel in the tony Bandra suburb at a cost of ₹4,500 crore. This will be the second venture of Omkar with L&T Realty, after the earlier 17-acre redevelopment project Crescent Bay in the Parel area. Omkar is also developing one of the world's largest slum rehabilitation projects in suburban Andheri area. The latest project will be a mixed-use development and Omkar will take care of the slum rehabilitation, while L&T Realty will build the saleable component of the project. Work is set to start soon as Omkar is currently sitting on huge slum land parcels and is in the process of finding partners to not only monetize them but also create luxury residential projects by partnering with big names like Piramal Realty, Godrej Properties, L&T Realty, among others. Earlier, Omkar had teamed up with Piramal for the Dhobi Ghat redevelopment project at Mahalaxmi spread across 12 acres and has recently joined hands with Godrej Properties to develop a 4.25-acre plot in Bandra West.