Mumbai: Oberoi Realty Ltd. has been appointed by the Slum Rehabilitation Authority (SRA) to undertake the development of land at Bandra Reclamation under the Slum Rehabilitation Scheme. The company disclosed the development in a regulatory filing on Friday.
According to the filing, Oberoi Realty will develop approximately 10,300 square metres of land owned by the Maharashtra Housing and Area Development Authority (MHADA).
As per the provisions of the Development Control and Promotion Regulations (DCPR) for Greater Mumbai, 2034, Oberoi Realty anticipates gaining a free sale component of about 3.2 lakh square feet from the project’s development and redevelopment.
This project marks another significant initiative in the city’s ongoing efforts to transform slum areas into modern urban spaces.
