Oberoi Realty has announced the signing of a Development Agreement for the redevelopment of housing societies located near Peddar Road in Mumbai. The project site encompasses an aggregate land area of approximately ~4,800 square meters. The company anticipates an entitlement of up to 1.40 lakh square feet of free sale component, subject to prevailing development control regulations and laws.
New Development Agreement Secured
Oberoi Realty Limited officially confirmed today, March 28, 2026, that it has entered into a significant Development Agreement. This agreement pertains to the redevelopment of land owned by two adjacent housing societies.
Project Location and Scale
The properties involved are situated in prime Mumbai locations, specifically at M.L. Dahanukar Marg and Dr. G. Deskhmukh Marg, Peddar Road. The lands being acquired for redevelopment measure an aggregate of approximately ~4,800 square meters, calculated subject to necessary set-back areas.
Anticipated Saleable Area
The company estimates its entitlement for the free sale component resulting from this redevelopment project. This entitlement is projected to be up to 1.40 lakh square feet, measured as RERA Carpet area. This entitlement is contingent upon compliance with the Development Control & Promotion Regulations for Greater Mumbai, 2034, and other applicable legal provisions.
Regulatory Filing Confirmation
This information has been disclosed to the stock exchanges following the requirements under applicable regulations. The disclosure confirms the company’s proactive strategy in expanding its portfolio through high-value redevelopment opportunities in central Mumbai.
Source: BSE
