OBEROI NEPEAN SEA ROAD — New Project Coming Up in Nepean Sea Road, Mumbai
Oberoi Realty Enters Nepean Sea Road with Redevelopment Project
Oberoi Realty, one of India's leading listed real estate developers, has announced a new redevelopment project in South Mumbai's prestigious Nepean Sea Road. Oberoi Realty has entered into a development agreement for the redevelopment of a prime land parcel measuring 4,706 sq.mtrs., located on Nepean Sea Road, Mumbai.
Project Scale
Oberoi Realty's entitlement to a free sale component from the project is currently estimated at 1.18 lakh sq ft (RERA carpet area), subject to the provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2034, and applicable law. This redevelopment represents the developer's continued focus on South Mumbai's luxury micro-markets.
Location and Market Context
Oberoi Realty has announced a new redevelopment project on Nepean Sea Road, one of South Mumbai's most premium and historic residential stretches. Nepean Sea Road is a well known residential address in the heart of South Mumbai. It falls under the Mumbai South micromarket and carries the pin code 400006. Officially named Lady Laxmibai Jagmohandas Marg, the area is known for its sea facing location, large green spaces, ultra premium apartments, and proximity to Malabar Hill.
Nepean Sea Road is known for high-value residential demand, limited supply, and strong appreciation potential, making the redevelopment a strategically important move for the developer. The area is home to many prominent industrialists, celebrities, and business tycoons, reflecting its status as a premium address.
Oberoi Realty's Track Record
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. A listed entity, it is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals; it is an established brand with an impeccable track record.
Oberoi Realty's residential portfolio covers some of Mumbai's most recognised luxury addresses. Flagship developments include Three Sixty West in Worli with its Ritz-Carlton hospitality component, along with Eternia, Enigma, and Maximus in Mulund and Forestville in Thane.
Strategic Growth in South Mumbai
The redevelopment also reinforces the company's presence in South Mumbai at a time when several leading developers are exploring redevelopment-led growth due to rising land scarcity. In another key development, in July 2024, the company entered into an agreement to develop and redevelop a land parcel measuring 2,576 sq m at Carter Road, Bandra (West).