Mumbai: Oberoi Realty Signs Deal To Redevelop Peddar Road Societies, Project May Cross ₹1500 Crore

Mumbai based real estate developer Oberoi Realty has entered into a development agreement to redevelop two housing societies located in the upscale Peddar Road area of South Mumbai. As reported by Hindustan Times, the project is expected to unlock significant value given its premium location and demand for luxury housing.

The redevelopment covers land parcels situated along M L Dahanukar Marg and Dr G Deshmukh Marg, with a combined area of around 4,800 square metres, subject to regulatory set backs.

Estimated Saleable Area And Regulatory Framework

In a regulatory filing, the company stated that its free sale component from the project could reach up to 1.40 lakh square feet of RERA carpet area. The final development will be governed by the Development Control and Promotion Regulations for Greater Mumbai, 2034, along with other applicable norms.

While the company has not disclosed the expected revenue from the project, market estimates indicate a strong earning potential.

Revenue Estimates Point To Premium Gains

According to ICICI Direct Research, the project could generate gross sales exceeding ₹1500 crore. Analysts suggest that the project’s location in one of South Mumbai’s most sought after residential pockets could allow the developer to command a premium over prevailing market rates.

The agreement is also expected to help Oberoi Realty move ahead with the project launch in the medium term.

Recent Expansion Across Mumbai

The Peddar Road deal comes amid a series of strategic acquisitions by the company. Earlier this month, Oberoi Realty signed a development agreement with MHADA for a land parcel in Versova’s Aram Nagar area in Andheri West.

Additionally, in February 2025, the company emerged as the highest bidder for an 11 acre land parcel in Bandra East, quoting ₹5,400 crore in a bid floated by the Rail Land Development Authority.

With multiple high value projects in the pipeline, Oberoi Realty continues to strengthen its presence in Mumbai’s competitive real estate market.

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