Oberoi Realty Ltd. has clarified that the company has made requisite applications for the environment clearance for its Mulund project with the concerned authorities. The request is under process, it said.
The Company has not yet received any environmental clearance from the concerned authorities as erroneously mentioned in a business daily.
Earlier, a financial newspaper reported that Oberoi Realty has received environmental clearance for its proposed residential project in Mulund.
The company has a total 18.8 acres in Mulund, with a total development potential of over 3 million sq ft.
In 2005, Oberoi Realty had acquired 18.8 acres, located on LBS Marg, Mulund, from GlaxoSmithKline Pharma for a total consideration of Rs 2.2bn.