1-OAK buys 7-acre land parcel in Ayodhya; plans Rs.350-Cr for mixed use development

Real estate developer 1-OAK has acquired a seven-acre land parcel in Ayodhya, Uttar Pradesh, and is in talks to acquire another three-acre plot for mixed use development with an investment outlay of INR 350 crore. The company, promoted by Singapore-based Greenfield Advisory Pte. Ltd, which develops residential and hospitality projects, has also acquired land in Lucknow, Thiruvananthapuram and Jaipur. The Uttar Pradesh government has identified 1,100 acres of land in and around Ayodhya for acquisition for residential, commercial and retail development.