OBEROI ADARSH NAGAR (WORLI MHADA REDEVELOPMENT) — New Project Coming Up in Worli, Mumbai

Project Scope and Location

On 6 May 2024, Oberoi Realty entered into a development agreement to develop and redevelop land measuring approximately 12,790 square meters at Adarsh Nagar in Worli. The land is leased to Maharashtra Housing Area Development Authority (MHADA) and currently houses seven buildings with a total of 504 flats.

The site is positioned in Mumbai's established Worli precinct, a locality with ongoing premium residential redevelopment activity. The location sits near Oberoi Realty's 360 West project, indicating clustering of the developer's presence in this micromarket.

Development Parameters

The company expects to generate a free sale component of around 6.24 lakh square feet (RERA carpet area) from the development, as per the Development Control & Promotion Regulations of Greater Mumbai, 2034. The seven existing buildings currently accommodate 504 residential units, which will be modernized as part of the redevelopment.

Developer Background

Oberoi Realty operates as a publicly-listed real estate development company with operations concentrated in Mumbai. The company operates across residential, commercial, and retail segments. In March 2024, Oberoi Realty completed the amalgamation of three wholly-owned subsidiaries—Oberoi Constructions Limited, Oberoi Mall Limited, and Evenstar Hotels Private Limited—following National Company Law Tribunal approval.

Project Status

The project remains in the development planning phase following the execution of the development agreement. Specific timelines for construction commencement, unit configuration, or possession dates have not been disclosed by the developer.