Oberoi Realty has entered into a Development Agreement for the development and redevelopment of land admeasuring approximately 13,450 square meters, situate at Tardeo, Mumbai, that would generate a free sale component of around 2.5 lakh sq ft, the company said in a regulatory filing.
“We write to inform you that the Company has today i.e. on September 27, 2023, (said Land). The said Land is adjoining a property already being redeveloped by the Company in joint venture,” the company said.
Currently, there are structures on the said land which are tenanted by the Municipal Corporation of Greater Mumbai in favour of various persons, the company further added. The company expects to generate a free sale component of around 2.5 lakh square feet (on carpet area) from the development and redevelopment of the said land, as per the extent provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2023, the filing read.
Oberoi Realty is one of the leading real estate firms in India. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals.
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