Oberoi Realty has partnered with landowners to develop a 5-star hotel and luxury villas in Alibaug, near Mumbai.
The luxury real estate developer will build a hotel as well as branded residential villas across 81 acres in the Raigad district of Maharashtra, with 8.6 acres earmarked for the luxury hotel and 72.4 acres set aside for 150 villas.
Oberoi said the consideration for the transaction to the landowners will be in the form of revenue and area share from the residential project to be developed on the plot.