Omkar realty gets 700 EOIs for ₹22,000 cr project

In an encouraging development in the realty sector, Mumbai-based Omkar Realtors & Developers, which is set to launch one of the country’s biggest mixed-use realty hub with an estimated investment of ₹22,000 crore, has notched up over 700 EOIs (Expression of Interest) from domestic and NRI markets. The mega project stretching across over 65 acres, in the vicinity of Andheri east on the western express highway is the mixed redevelopment being undertaken by the builder expecting a record 10 million sq.ft development of space. Out of this 6 million sq.ft., is dedicated to residential development while balance 4 million sq.ft., will be retail and commercial development, said Managing Director, Omkar Realtors, Babulal Varma, explaining that the encouraging response by end users and investors in OID project definitely signals the strong revival of buying sentiment in Mumbai post RERA, GST and demonetization phases. He further stated that the current 550-plus apartments’ inventory on offer under the name of Sereno has a fair share of inventory under sub- ₹1 crore bracket and holds a strong attraction for pan-India customers and investors looking at buying in country’s primary realty market.