Joint Ventures28 March 2026 at 12:01 pm
Oberoi Realty Inks Development Agreement for 4,800 sqm Land in Peddar Road, Mumbai
AI Summary
Oberoi Realty Ltd. has signed a Development Agreement with two housing societies located at M.L. Dahanukar Marg and Dr. G. Deskhmukh Marg, Peddar Road, Mumbai. The agreement is for the redevelopment of lands amounting to approximately 4,800 square meters, subject to set-back areas. Upon successful completion, the company is expected to gain a free sale component of up to 1.40 lakh square feet, as per the Development Control & Promotion Regulations for Greater Mumbai, 2034 and applicable law.
Key Highlights
- Oberoi Realty Ltd. has entered into a Development Agreement with two housing societies in Peddar Road, Mumbai.
- The agreement covers approximately 4,800 square meters of land, subject to set-back areas.
- Upon successful completion, Oberoi Realty is expected to gain a free sale component of up to 1.40 lakh square feet.
- The development is subject to the provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034 and applicable law.
- This joint venture signifies Oberoi Realty's continued growth and commitment to real estate development in Mumbai.