Oberoi Realty, a leading Indian real estate firm, has embarked on the redevelopment of a prime land parcel in Mumbai's Tardeo area. This strategic move, announced in a regulatory filing, is expected to yield a substantial free-sale component of around 2.5 lakh square feet. The company's decision aligns with its commitment to delivering premium real estate solutions across various sectors, including residential, commercial, and social infrastructure. Oberoi Realty's track record of excellence positions it well to capitalize on lucrative opportunities in sought-after locations, contributing to the transformation of urban landscapes in India.
Oberoi Realty, a prominent player in the Indian real estate sector, has set its sights on the redevelopment of a strategically located land parcel in Tardeo, Mumbai. According to a recent regulatory filing by the company, this venture is poised to generate a substantial free-sale component of approximately 2.5 lakh square feet.
The company officially announced this significant move on September 27, 2023. The designated land, encompassing an area of about 13,450 square meters, is situated in the bustling Tardeo locality of Mumbai. Interestingly, this land is in close proximity to another property that Oberoi Realty is already in the process of redeveloping through a joint venture.
At present, the Tardeo land features existing structures that are under tenancy by the Municipal Corporation of Greater Mumbai, catering to various individuals and entities. Oberoi Realty's plans for this prime parcel involve capitalizing on the provisions outlined in the Development Control & Promotion Regulations for Greater Mumbai, 2023, to optimize its real estate potential.
Oberoi Realty stands as a distinguished entity in India's real estate landscape, celebrated for its unwavering focus on delivering premium developments across various verticals within the real estate sector. These verticals encompass residential properties, office spaces, retail spaces, hospitality establishments, and social infrastructure projects. The company has a track record of delivering high-quality, iconic projects that have contributed significantly to the changing skyline of Indian cities.
Oberoi Realty's decision to redevelop a prime land parcel in Tardeo, Mumbai, highlights its strategic vision and commitment to delivering premium real estate solutions. With an estimated free-sale component of approximately 2.5 lakh square feet, this project represents a significant addition to the company's portfolio. Oberoi Realty's track record of excellence and its ability to identify lucrative opportunities in prime locations position it favourably for future growth and success in India's competitive real estate market.
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