Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Oberoi Realty has been appointed by Mumbai's Slum Rehabilitation Authority to redevelop a 2.5-acre Bandra Reclamation parcel owned by MHADA. The project grants the developer 3.2 lakh sq ft of RERA carpet area as free-sale entitlement under the city's Development Control Regulations. Known for its premium location near the Bandra-Worli Sea Link and Bandra-Kurla Complex, Bandra remains a prime hub for residential and commercial projects. This initiative aligns with Mumbai's urban renewal strategy to replace slum settlements with organized urban spaces. Alongside this, Oberoi Realty announced a luxury residential and resort development spanning 81 acres in Alibaug, further expanding its premium portfolio.
Oberoi Realty revealed that the Slum Rehabilitation Authority (SRA) in Brihanmumbai has appointed the company to execute a slum rehabilitation scheme on a land parcel measuring 2.5 acres (approximately 10,300 square metres) at Bandra Reclamation in Mumbai. This land belongs to the Maharashtra Housing and Area Development Authority (MHADA), a government urban housing body. Advertisement
The developer plans to transform the site, gaining a free-sale entitlement of roughly 3.2 lakh sq ft RERA carpet area in line with the Development Control & Promotion Regulations for Greater Mumbai, 2034, according to a recent regulatory filing.
Last year, Adani Realty, the real estate arm of Adani Group, emerged as the highest bidder for the redevelopment of a 24-acre plot at Bandra Reclamation. Valued at an estimated cost of INR 30,000 crore, the land parcel has a potential development area of 45 lakh square feet.
Bandra's property market, known for its premium location and connectivity to landmarks like the Bandra-Worli Sea Link and Bandra-Kurla Complex, remains a sought-after destination for residential and commercial developments. Its high value attracts both developers and investors.
This redevelopment initiative is part of Mumbai's broader urban renewal strategy to address the challenges posed by slum settlements, which occupy vast tracts of prime land in the city. The project at Bandra Reclamation underscores the growing participation of private developers in slum rehabilitation, transforming densely populated areas into organised urban spaces while offering improved living conditions to residents.
Earlier this week, Oberoi Realty announced a development agreement for a vast 81.05-acre land parcel in Tekali village, Alibaug, near Mumbai. The deal involves compensating landowners through revenue and area-sharing arrangements for the planned residential project. From this parcel, 8.6 acres (approximately 34,803 square metres) are allocated for a high-end luxury five-star hotel or resort with an FSI of 30,000 square metres. The remaining 72.45 acres (around 2,93,207 square metres) will host 150 branded, fully serviced luxury residential villas using an FSI of about 1,20,000 square metres.
With a track record of premium developments across the Mumbai Metropolitan Region, Oberoi Realty's involvement in the Bandra Reclamation redevelopment project brings optimism for quality execution. The company's participation reflects the increasing reliance on private-sector partnerships to fast-track urban regeneration under the SRA framework. As Mumbai continues to tackle its housing and infrastructure challenges, such projects represent a step forward in balancing social upliftment with urban growth.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
