Property developer Oberoi Realty has concluded a transaction to acquire a 6.4-acre land parcel from NRB Bearings in Thane’s Pokhran Road 2 along with structures thereon for Rs 196 crore. In May, the listed company had entered into an agreement with NRB Bearings to buy the plot, which is adjacent to its existing 68-acre plot. The deal was registered on Tuesday. The developer had made payment of part consideration amount to NRB Bearings earlier, and the balance consideration has been paid now with the closing of the transaction. In February, the developer had acquired air-conditioning and commercial refrigeration company Blue Star India’s 9-acre land parcel in the same vicinity for nearly Rs 200 crore. The Blue Star India’s land parcel is located on Thane’s Pokhran Road II next to GlaxoSmithKline Pharmaceuticals’ 60-acre plot that Oberoi Realty had acquired in 2019 for Rs 890 crore. On Tuesday, shares of Oberoi Realty closed at Rs 1,439.15, up 0.02% over previous close, while shares of NRB Bearings closed the session at Rs 280.50, up 1%. The ongoing resurgence in the residential real estate market has prompted property developers to actively pursue and conclude transactions for land parcels across the country. Transactions for land parcels have started to gather pace again with many deals including outright acquisitions and joint ventures in key property markets of Mumbai, Pune, Chennai, Hyderabad, and Bengaluru either being closed or expected to close soon.