Has informed the Exchange regarding Rare Townships Private Limited (RTPL), a subsidiary of Hubtown Limited (the Company), has obtained the Occupation Certificate (OC) for two wings (Manhattan Residency - Tower A4 and Detroit Residency - Tower A5) of its Rising City project, located at Ghatkopar, Mumbai.
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Hubtown Limited's subsidiary Rare Townships Private Limited (RTPL) has received the Occupation Certificate (OC) for two residential wings — Manhattan Residency (Tower A4) and Detroit Residency (Tower A5) — of its Rising City project in Ghatkopar, Mumbai. An OC is a key regulatory clearance issued by the local municipal authority confirming that the buildings are fit for occupancy and meet all construction and safety norms. With this in hand, the company can now legally hand over possession of flats to buyers in these two towers and begin recognizing revenue from them. This removes a significant regulatory hurdle for the Rising City project and signals progress toward monetizing inventory.
Positive for shareholders — OC enables flat handovers, revenue booking, and cash inflow from these two towers. This is a routine but important milestone in a real estate developer's project lifecycle and supports the company's near-term revenue pipeline.