Oberoi Realty has taken another step in expanding its Mumbai portfolio, with the Oberoi Realty Versova MHADA project marking its latest move in the city’s redevelopment space.
The company has signed a development agreement with the Maharashtra Housing and Area Development Authority (MHADA) for a land parcel in Aram Nagar, Versova. The project is located in Andheri within a well-established residential and commercial area that continues to observe consistent demand.
According to the company, the project is expected to yield a free-sale component of around 17.18 lakh sq ft (RERA carpet area), excluding the rehabilitation portion meant for existing occupants. As with most redevelopment-led projects in Mumbai, the final outcome will depend on regulatory approvals under the Development Control and Promotion Regulations (DCPR) 2034.
This development aligns with Oberoi Realty’s broader strategy of securing high-potential urban land parcels. Earlier in February 2025, the company emerged as the highest bidder for an 11-acre railway land parcel in Bandra East, quoting ₹5,400 crore. The land, offered on a 99-year lease by the Rail Land Development Authority (RLDA), is located near the Western Express Highway and carries a development potential of nearly 19.50 lakh sq ft.
Beyond Versova, Oberoi Realty has been actively securing key land parcels across Mumbai. In February 2025, it emerged as the highest bidder for an 11-acre railway land parcel in Bandra East, quoting ₹5,400 crore. The land, offered on a 99-year lease by the Rail Land Development Authority (RLDA), carries a development potential of nearly 19.50 lakh sq ft.
The company has also entered South Mumbai’s premium redevelopment market. In November 2025, it signed a development agreement for a 4,706 sq m plot on Nepean Sea Road, with an estimated free-sale component of about 1.18 lakh sq ft.
With projects spread across western suburbs, central hubs, and prime South Mumbai locations, the Oberoi Realty Versova MHADA project reflects the company’s continued focus on redevelopment opportunities in land-constrained urban markets.
Posted By
Ruchi Mane
info@houssed.com
Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.