Oberoi Realty has entered into a Development Agreement for development and redevelopment of land admeasuring around 12,790 square meters, situate at Adarsh Nagar, Worli, Mumbai City (said Land).
The said Land is leased to Maharashtra Housing and Area Development Authority and currently, there are 7 buildings on the said Land with a total of 504 flats. The Company expects to currently generate a free sale component of around 6.24 lakh square feet (RERA Carpet area) from the development and redevelopment of the said Land, as per the extant provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034.
Oberoi Realty is engaged in construction and real estate development, and hospitality. The company’s segments include real estate and hospitality.
