Oberoi Realty to Redevelop 2.5-Acre Land Parcel in Mumbai’s Bandra, Pioneering a New Urban Renaissance

Oberoi Realty has been officially appointed by the Slum Rehabilitation Authority (SRA) of Brihanmumbai to spearhead the redevelopment of a 2.5-acre land parcel in Mumbai’s iconic Bandra Reclamation. The land, currently owned by the Maharashtra Housing and Area Development Authority (MHADA), is set to become the cornerstone of an ambitious slum rehabilitation scheme aimed at transforming urban living standards.

Development Details
According to the established Development Control & Promotion Regulations for Greater Mumbai, the developer is slated to secure a free sale component with approximately 3.2 lakh sq ft of RERA carpet area. This significant allotment is expected to not only boost the housing market but also catalyze further urban improvements in the area, elevating the overall quality of life for future residents.

Strategic Urban Renewal
Bandra is renowned for its prime location and seamless connectivity, notably via the Bandra-Worli Sea Link and the Bandra-Kurla Complex. The redevelopment initiative is anticipated to be a transformative project, integrating modern amenities and sustainable design with the existing urban fabric. Oberoi Realty’s expertise in large-scale projects positions them perfectly to deliver a development that meets both regulatory standards and market expectations.

Market Impact and Investment Opportunities
The move by Oberoi Realty comes at a time when investors and developers are increasingly focusing on premium real estate opportunities. The strategic redevelopment of this 2.5-acre parcel in Bandra is expected to attract significant interest from both domestic and international investors. The project not only promises enhanced infrastructure but also serves as a model for slum rehabilitation, blending social responsibility with commercial viability.

Expansion Beyond Bandra
In addition to the Bandra project, Oberoi Realty has recently inked a development agreement for an expansive 81.05-acre land parcel in Tekali village, Alibaug, near Mumbai. The transaction involves a revenue and area-sharing model with the landowners, highlighting the company's innovative approach to urban development. This diversification further cements Oberoi Realty’s commitment to redefining urban landscapes across the Mumbai Metropolitan Region.

Developer’s Vision for the Future
Oberoi Realty envisions a future where urban redevelopment drives community upliftment. By integrating modern design, sustainable practices, and a focus on community needs, the company aims to create developments that are not only architecturally significant but also socially impactful. The Bandra project is set to serve as a flagship model that could inspire similar transformations across other urban centers.

Closing Remarks
With its proven track record and a forward-thinking approach, Oberoi Realty is poised to lead the charge in Mumbai’s urban transformation. The redevelopment of this 2.5-acre land parcel in Bandra is a significant milestone that underscores the company’s strategic vision and commitment to enhancing the city’s real estate landscape. As the project unfolds, stakeholders can expect a harmonious blend of luxury, functionality, and community-centric design.

Highlights

• Strategic Appointment: Oberoi Realty named developer by the SRA for a 2.5-acre land parcel in Bandra Reclamation.
• Development Scope: Project includes approximately 3.2 lakh sq ft RERA carpet area for free sale.
• Prime Location: Bandra’s connectivity via the Bandra-Worli Sea Link and proximity to the Bandra-Kurla Complex.
• Social Impact: Initiative aimed at slum rehabilitation and community upliftment.
• Expansion Plans: Recent development deal for an 81.05-acre parcel in Tekali village, Alibaug, near Mumbai.
• Future Vision: Emphasis on sustainable, modern design that meets both market demand and social responsibilities.

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