Oberoi Realty Limited has informed the Exchange about execution of Development Agreement in respect of land situated at Malabar Hill, Mumbai
OBEROIRLTY · price
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Oberoi Realty has signed a Development Agreement to redevelop a ~1,740 sq meter land parcel at Malabar Hill, Mumbai. The project will be taken up under the cluster development scheme along with adjoining housing societies. The company's share of free-sale area from the project is estimated at up to ~51,000 sq ft (RERA Carpet area), subject to DCPR 2034 and other applicable rules. The company has not disclosed the financial consideration, the landowner/society counterparties, or the expected project timeline.
The Malabar Hill address is one of Mumbai's most premium micro-markets, so even a modest 51,000 sq ft free-sale entitlement can translate into high-value inventory, though the project size is relatively small versus Oberoi's overall portfolio. Near-term stock impact is likely limited as no financials or launch timeline have been shared.