Oberoi Realty has entered into a development agreement for the redevelopment of a prime land parcel measuring 4,706 sq.mtrs., located on Nepean Sea Road, Mumbai.
The company’s share of the free sale component from the project is expected to be approx. 1.18 lakh sq. ft. (RERA carpet area), subject to the provisions outlined in the Development Control & Promotion Regulations for Greater Mumbai, 2034, as well as applicable laws. This redevelopment is expected to enhance Oberoi Realty's portfolio and expand its presence in one of Mumbai's most sought-after locales.
The project’s development will be in accordance with local regulations, contributing to the city's growing demand for high-quality real estate. This move is expected to strengthen Oberoi Realty’s position in Mumbai’s luxury real estate.