Oberoi Realty Secures Versova Land in Mumbai with 17 Lakh Sq Ft Potential
Mumbai-based listed real estate developer, Oberoi Realty, has inked a development agreement (DA) with the Maharashtra Housing and Area Development Authority (MHADA) for a land parcel in Mumbai's Versova area. This strategic move further cements Oberoi Realty's presence in the bustling Mumbai real estate market.
The company announced on March 16 that it has entered into a development agreement for MHADA-owned land in Aram Nagar, located in the Versova area of Andheri West, Mumbai. This acquisition is a significant step in Oberoi Realty's expansion plans and aligns with the company's strategy to capitalize on prime real estate opportunities in the city.
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 has a history of making strategic moves in the Mumbai real estate market. In February 2025, the company 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.
In November 2025, Oberoi Realty announced it would redevelop a 4,706 sq m land parcel in South Mumbai's Nepean Sea Road. The company entered into a Development Agreement for the redevelopment of a 4,706-square-meter parcel of land situated at Nepean Sea Road, Mumbai. The company's entitlement to a free-sale component from this 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.
These developments underscore Oberoi Realty's commitment to leveraging prime locations in Mumbai and contributing to the city's urban landscape. The company's strategic acquisitions and redevelopment projects are designed to meet the growing demand for high-quality residential and commercial spaces in Mumbai, one of India's most dynamic and economically vibrant cities.
Oberoi Realty's recent projects and acquisitions not only reflect the company's strong market position but also its ability to navigate the complexities of the Mumbai real estate market. With a focus on sustainable development and high standards of living, Oberoi Realty continues to set benchmarks in the industry and create value for its stakeholders.
