Mumbai Real Estate News: Oberoi Realty Signs Redevelopment Deal For Premium Peddar Road Project With 1.4 Lakh Sq Ft Sale Potential
Oberoi Realty has signed a redevelopment agreement for a premium residential project on Peddar Road, South Mumbai, covering a 4,800 sq m land parcel. The project is expected to generate up to 1.4 lakh sq ft of free-sale area, strengthening the developer’s position in the city’s luxury housing segment.
Oberoi Realty expands its luxury housing footprint with a redevelopment project on Mumbai’s premium Peddar Road stretch | Representational Image
Mumbai, March 30: Oberoi Realty has entered into a redevelopment agreement for a high-end residential project on Peddar Road, in South Mumbai, according to a regulatory filing submitted to Bombay Stock Exchange (BSE) Limited and the National Stock Exchange of India Limited.
Regulatory filing and partnership details
The disclosure, made under Regulation 30 of Securities and Exchange Board of India norms, confirms that the developer has partnered with two adjacent housing societies for the redevelopment of a land parcel spread over approximately 4,800 sq m.
Project location and scale
Located along M.L. Dahanukar Marg and Dr. G. Deshmukh Marg in South Mumbai, the project is expected to yield a free-sale component of up to 1.40 lakh sq ft (RERA carpet area), subject to prevailing regulations.
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Strategic importance of Peddar Road
Peddar Road is considered among the city’s most premium residential stretches, offering established infrastructure and strong connectivity. The project is expected to further consolidate Oberoi Realty’s presence in Mumbai’s luxury housing segment.
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