Oberoi Realty, a Mumbai-based listed real estate developer, has revealed its plan to redevelop a land parcel measuring 4,706 sq m in the Nepean Sea Road micro-market of South Mumbai. The company confirmed the signing of a Development Agreement for the project in its announcement.
As per the company press release, the redevelopment would encompass a 4,706 square meters land at Nepean Sea Road, which is considered one of the most expensive and most attractive residential stretches in Mumbai. Additionally, Oberoi Realty stated that the company's entitlement to a free sale component from the project is presently roughly 1.18 lakh square feet (RERA carpet area). The said calculation is still dependent on the provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2034, and other applicable laws.
By continually purchasing prime land parcels all over Mumbai, Oberoi Realty is adding another project to the company's redevelopment portfolio which is growing by leaps and bounds in the most luxurious quarters of the city.
The company has been very energetic in disclosing new developments and redevelopment deals in the last two years. Oberoi Realty announced the launch of Elysian Tower D at Oberoi Garden City in Goregaon in May 2025. The project attracted a significant demand from the market and, therefore, it recorded a gross booking value of ₹970 crore for 2.1 lakh sq ft (RERA carpet area) with a total saleable area of 3.25 lakh sq ft, according to the company's statement in its filing.
In another key development, in July 2024, the company entered into an agreement to develop and redevelop a land parcel measuring 2,576 sq m at Carter Road, Bandra (West). At the time, Oberoi Realty had noted that it expected to “generate a free sale component of around 40,000 square feet (RERA carpet area) from the development and redevelopment of the said land, as per the extant provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034.”
The latest Nepean Sea Road announcement reinforces the company’s focus on strengthening its presence in Mumbai’s luxury residential segment while simultaneously growing its redevelopment business—an increasingly important vertical as the city’s aging buildings look for modernisation and restructuring under favourable redevelopment policies.
Oberoi Realty is gearing for going beyond Mumbai as well. The company made it clear in October 2025 that it intends to debut its first project in Gurugram in the present fiscal year. Vikas Oberoi, the Chairman and Managing Director, said that most of the permits for the NCR project have been secured and that the inauguration is anticipated to take place before the end of the financial year. “We have opened our office in Gurugram, which shows our expansion plans for NCR are in place,” he said.
He further added, "On the Gurugram front, you will be happy to know that we have also loaded the entire TDR on the file. So, 100% of this area will be approved at one go. And we are hoping, we are really, really hoping to launch it within this financial year itself."
With rising traction across luxury markets and increased demand for marquee projects, Oberoi Realty’s strategic mix of redevelopment in Mumbai and expansion into NCR positions it for strong growth in the coming years.
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