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Mumbai real estate: Oberoi Realty inks deal to acquire Versova land with 17 lakh sq ft potential
Mumbai real estate update: Oberoi Realty said that it has entered into a development agreement for MHADA-owned land situated at Aram Nagar, in Versova, Andheri
Mumbai-based listed real estate developer, Oberoi Realty, has inked a development agreement (DA) with Maharashtra Housing and Area Development Authority (MHADA) for a land parcel in Mumbai's Versova area.
The company announced on March 16 that it has entered into a development agreement for MHADA-owned land in Aram Nagar, in the Versova area of Andheri West, Mumbai.
"Based on the extant provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2034, the company expects its share of the free sale component to be approximately 17.18 lakh square feet (RERA carpet area) (excluding its share of rehab component for existing tenants) from the development of the project Land, subject to statutory approvals and applicable regulations," Oberoi Realty said in a statement.
Previous announcements by the company in the Mumbai real estate market
Oberoi Realty in February 2025 announced that it emerged as the highest bidder, quoting ₹5,400 crore for the lease of 11 acres of land in Mumbai's Bandra East. The Rail Land Development Authority (RLDA) had floated the bids for the same.
According to the company, it had participated in bids for the grant of a 99-year lease for the development of approximately 11 acres of railway land in Bandra East, adjoining the Western Express Highway, Mumbai, with a FSI potential of approximately 19.50 lakh sq ft.
Also Read: Oberoi Realty dismisses slowdown concerns, gears up for Gurugram launch
In November 2025, Oberoi Realty announced it would redevelop a 4,706 sq m land parcel in South Mumbai's Nepean Sea Road. According to the company announcement, it has entered into a Development Agreement for the redevelopment of a 4,706-square-meter parcel of land situated at Nepean Sea Road, Mumbai.
Also Read: How redevelopment reshaped Mumbai’s entry playbook for non-local developers
The company had said that its entitlement to a free-sale component from the project is currently estimated at approximately 1.18 lakh square feet (RERA Carpet area), subject to the provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2034, and applicable law.
