Mumbai-based real estate developer Oberoi Realty has signed a development agreement (DA) for the redevelopment of a 1,740 sq m land parcel in South Mumbai’s Malabar Hill area. The company plans to undertake the project under the Maharashtra government’s cluster development scheme.
According to the company, the said land is proposed to be developed along with other adjoining society/ies under the cluster development scheme.
“The company’s entitlement of free sale component from the said land is estimated to be up to 51,000 square feet (RERA Carpet area), subject to the provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034 and applicable law,” Oberoi Realty said in a regulatory filing.
According to ICICI Direct, the project is expected to have a sales potential of over ₹700 crore.
Oberoi Realty has signed a development agreement to develop a 0.43-acre plot in Malabar Hill, Mumbai. The land parcel offers the company a total RERA sales potential of 51000 sft (~FSI 2.7). The company plans to launch this project in FY27E, and the estimated sales potential from this is more than ₹700 crore,” ICICI Direct said.
Recent announcements by Oberoi Realty
On March 28, Oberoi Realty announced inking DA for the redevelopment of two housing societies in the Peddar Road area of South Mumbai. The company, in a regulatory filing, said the project is estimated to have a sale potential of 1.40 lakh sq ft of RERA carpet area. In a note issued on March 30, ICICI Direct Research estimated the gross sales potential at more than ₹1,500 crore.
Earlier in March, Oberoi Realty had inked a deal with Maharashtra Housing and Area Development Authority (MHADA) for a land parcel in Mumbai’s Versova area. The company announced on March 16 that it has entered into a development agreement for MHADA-owned land in Aram Nagar, in the Versova area of Andheri West, Mumbai.
In February 2025, Oberoi Realty had announced that it emerged as the highest bidder, quoting ₹5,400 crore for the lease of 11 acres of land in Mumbai’s Bandra East. The Rail Land Development Authority (RLDA) had floated the bids for the same.
