Oberoi Realty, a prominent figure in India’s real estate sector, has disclosed plans to redevelop a plot of land spanning approximately 13,450 square meters in Tardeo, Mumbai. This strategic endeavor is anticipated to yield a substantial free-sale component of approximately 2.5 lakh square feet. The company unveiled this development through an official regulatory filing.
The newly acquired land, which sits adjacent to a property already undergoing redevelopment by Oberoi Realty in collaboration with a joint venture partner, holds considerable potential for expansion. However, it is presently occupied by structures that are under the jurisdiction of the Municipal Corporation of Greater Mumbai and leased to various individuals and entities.
Oberoi Realty aims to harness the advantages of this prime location and the provisions outlined in the Development Control & Promotion Regulations for Greater Mumbai, 2023, to unlock a free-sale component of roughly 2.5 lakh square feet (measured by carpet area) through the development and redevelopment of the land.
As a prominent player in the real estate industry, Oberoi Realty maintains a strong emphasis on premium developments across a range of sectors, including residential, office spaces, retail, hospitality, and social infrastructure.
This strategic move underscores the company’s commitment to enhancing its portfolio and contributing to the dynamic real estate landscape in Mumbai, aligning with its vision for sustainable growth and development.”
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