Oberoi Realty to Launch New Projects in Gurugram, Worli, and Thane

Oberoi Realty, a prominent real estate firm based in Mumbai, is gearing up for expansion with plans to venture into new markets and launch multiple projects in the upcoming year. Vikas Oberoi, Chairman and Managing Director, highlighted the company's strategic roadmap during a recent announcement, outlining an ambitious plan that includes entering the Gurugram market and launching additional projects in Thane and Worli, Mumbai.

Expanding Horizons

For the first time, Oberoi Realty will mark its presence in the Delhi-NCR region with a luxury residential project in Gurugram. This move comes after acquiring a substantial 14.81-acre land parcel in Sector 58 for ₹597 crore. The development potential of this land is estimated at up to 2.6 million square feet, signaling Oberoi Realty's intent to establish a strong foothold in one of India's fastest-growing real estate markets.

Strengthening Presence in Mumbai

In Mumbai, the company's stronghold, Oberoi Realty is not resting on its laurels. Plans are underway to redevelop seven old buildings in Worli, creating 504 flats in exchange for 6.24 lakh sq ft of RERA carpet area. This project not only aims to revitalize the Adarsh Nagar area but also to capitalize on the open market's robust demand. Additionally, the firm is preparing to launch another significant project in Thane near Pokhran Road 2, having recently acquired approximately 8 acres for ₹192.31 crore.

Market Insights and Future Outlook

Despite exploring new markets, Vikas Oberoi expressed a cautious approach towards the Bengaluru real estate market. The company continues to analyze the market landscape while focusing predominantly on its ongoing projects and upcoming launches in Mumbai and Thane.

With various projects at different stages of development and readiness, such as the Worli and Thane projects expected to launch within an 8 to 12-month window, Oberoi Realty is poised for a busy financial year ahead. The company's strategy appears to be well-aligned with the market dynamics, focusing on luxury and high-demand areas, ensuring sustained growth and expansion.

Oberoi Realty's expansion plan underscores its commitment to capturing lucrative market opportunities and enhancing shareholder value. With a clear focus on growth, strategic market entries, and financial health, Oberoi Realty is setting the stage for continued success in India's competitive real estate sector.