OBEROI BANDRA RECLAMATION — New Project Coming Up in Bandra Reclamation, Mumbai
Oberoi Realty Appointed for Bandra Reclamation Slum Rehabilitation
The Slum Rehabilitation Authority (SRA), Brihanmumbai, confirmed the appointment of Oberoi Realty as the developer for a slum rehabilitation scheme on January 10, 2025. The project involves land measuring approximately 10,300 square meters at Bandra Reclamation, Mumbai. The land, owned by the Maharashtra Housing and Area Development Authority (MHADA), will be developed under the provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034.
Development Scope
Oberoi Realty anticipates being entitled to a free-sale component of approximately 3.2 lakh square feet of RERA carpet area. This free-sale entitlement, derived from the slum rehabilitation regulations, represents the primary commercial opportunity for the developer within the wider SRA framework.
Location and Strategic Position
Bandra Reclamation has emerged as one of Mumbai's most active redevelopment zones. The property market in Bandra is characterized by its prime location and connectivity to key areas like Bandra-Worli Sea Link and Bandra-Kurla Complex. Known for high-value residential and commercial properties, the area attracts developers and investors seeking premium opportunities. The Oberoi site sits within this larger transformation, positioned to benefit from existing infrastructure and proximity to Mumbai's financial and cultural hubs.
Oberoi Realty's Background
Since its establishment in the early 1980s by Mr. Ranvir Oberoi and now led by Mr. Vikas Oberoi, Oberoi Realty Ltd has transformed into a beacon of real estate development in Mumbai. This mix of innovative design, planning initiatives and use of cutting-edge technologies has enabled the company to successfully deliver 42 completed projects across Mumbai, the financial capital of India. The developer operates across residential, commercial, retail, and hospitality segments, with a portfolio that includes Three Sixty West in Worli with its Ritz-Carlton hospitality component, along with Eternia, Enigma, and Maximus in Mulund and Forestville in Thane.
Recent expansion has extended the developer's footprint beyond Mumbai. In December 2024, Oberoi Realty signed a development agreement for land measuring around 81.05 acres (equivalent to 3,28,010 square meters) in Alibaug, Maharashtra. Of this, 8.6 acres (34,803 square meters) is set for a high-end luxury five-star hotel/resort with an FSI of 30,000 square meters. Additionally, on October 18, the company launched project 'Oberoi Garden City Thane'. The company has recorded gross booking value of around Rs 1,348 crore for 5.65 lakh sq ft (carpet area) over the first three days. Spread around 75 acres, the project will offer homes with over 30 world-class amenities, a 5-star deluxe JW Marriott Hotel Thane Garden City and an Oberoi International School.
Slum Rehabilitation Framework
Oberoi Realty Ltd. has been appointed by the Slum Rehabilitation Authority (SRA) to undertake the development of land at Bandra Reclamation under the Slum Rehabilitation Scheme. Under this framework, the developer assumes responsibility for housing displaced residents while securing the right to develop and sell a designated portion of the project. As per the provisions of the Development Control and Promotion Regulations (DCPR) for Greater Mumbai, 2034, Oberoi Realty anticipates gaining a free sale component of about 3.2 lakh square feet from the project's development and redevelopment.