mumbai realty developer oberoi realty is aiming to repay its debt worth rs 500 crore in the next 18 months said a top company official last year the company had raised rs 750 crore through nonconvertible debentures ncds to partfinance its acquisition of a 25acre land parcel in borivali suburb of mumbai the developer with its bid of rs 1155 crore had emerged as the highest bidder for this land parcel auctioned by tata steel we have already prepaid debt of rs 250 crore and will be repaying balance over the next 18 months said vikas oberoi chairman managing director oberoi realty on wednesday the mumbaibased developer launched residential project on this 25acre land parcel in borivali under this project oberoi realty will develop total ten 60storey towers with 300 apartments each the residential apartments here will be sold at rs 12750 per sq ft with ticket sizes upward of rs 23 crore total development potential of the plot is 55 million sq ft and we are aiming to get revenues worth rs 10000 crore from this project oberoi added the company has secured all approvals for the proposed project sky city and it will be completed in phases over the next five years oberoi realty has already invested around rs 1400 crore in this project including the land cost of rs 1150 crore the company is aiming to fetch return on investment roi of 1819 on this project over the next five years