Oberoi Realty Moves Into Peddar Road With Two-Society Redevelopment in South Mumbai
Published
Oberoi Realty Limited has entered a development agreement for a residential redevelopment on Peddar Road in South Mumbai. The agreement, signed on 30 March 2026, covers a land parcel of about 4,800 square metres formed by merging two adjacent housing societies. The project is being planned as Aurelius at Pedder Road, and the developer has placed it among its upcoming launches for the second half of FY27.
The Chairman and Managing Director, Vikas Oberoi, referred to the project on the company's Q2 FY27 earnings call, where it was listed among the second-half launches. For a developer whose Mumbai business has long been built on large redevelopments, the Peddar Road plot is a notable addition to the pipeline, particularly because new supply on this stretch comes mostly from the redevelopment of older buildings.
Project details for prospective buyers
The redevelopment is planned as a single tower, with a free-sale component of up to 1.40 lakh sq ft of RERA carpet area under the regulations of the Development Control and Promotion Regulations 2034. Homes are planned as 3 BHK and 4 BHK apartments, which places the project in the large-format segment of South Mumbai's residential market.
- Status: Upcoming, with the developer's own listing marked Pre-Launch
- Land: about 4,800 sq m (roughly 51,700 sq ft), assembled from two adjacent societies
- Structure: one tower
- Configurations: 3 BHK and 4 BHK apartments
- Free-sale area: up to 1.40 lakh sq ft of RERA carpet area
- Launch window: second half of FY27, which runs from October 2026 to March 2027
The project sits on the former Pedder Road, now officially known as Gopalrao Deshmukh Marg, and the site is bounded by M.L. Dahanukar Marg and Dr. G. Deshmukh Marg. Buyers evaluating the project will find that the locality's pricing reference points are high. Market data cited for Peddar Road puts average rates at around Rs 68,000 to Rs 70,000 per sq ft, with five-year appreciation of about 13 percent. An ICICI Direct research note has assumed that Oberoi Realty could command a 25 percent premium over prevailing prices in the area.
Comparable completed and resale listings nearby, including Cumballa Crest on Peddar Road, have been quoted from about Rs 7.75 crore onwards, which gives a sense of the price band in the immediate neighbourhood.
The location
Peddar Road is one of the most established residential addresses in South Mumbai, and the site is well connected by road and rail. Dr. Gopalrao Deshmukh Marg links the area to the wider network, and Bhulabhai Desai Marg and Nepean Sea Road provide access to South and Central Mumbai. The Coastal Road, an 8-lane expressway running from Marine Lines in the south toward Kandivali in the north, is a short drive away.
Grant Road on the Aqua Line, which is Mumbai Metro Line 3, is about 1 km from the site, and Jagannath Shankar Sheth Metro is about 1.3 km away. The Western Railway stations at Mumbai Central, Mahalaxmi and Grant Road are around 3 km away. Chhatrapati Shivaji Maharaj International Airport is roughly 20 to 25 km from Peddar Road. Jaslok Hospital is located nearby, and schools such as Activity High School and Hill Spring International School serve the immediate area.
Infrastructure planned for the corridor adds to its long-term appeal. Metro Line 3 is a 33.5 km fully underground network with 27 stations, and the Coastal Road's second phase is expected to open soon. The Maharashtra State Road Development Corporation has also planned a 4.2 km flyover on Peddar Road, with an estimated cost of Rs 380 crore.
About Oberoi Realty
Oberoi Realty Limited was founded in 1998 and is listed on both the BSE and the NSE. The company has delivered 49 projects across Mumbai over four decades, according to its own disclosures, and has built well over 35 million sq ft of space. Its current pipeline is about 30 million sq ft across seven active projects.
The developer operates in Mumbai and Thane and entered the National Capital Region in 2026 with its first project there, Three Sixty North in Gurugram. Its Mumbai delivery record includes Esquire at Goregaon East, Prisma at JVLR and Oberoi International School at JVLR, along with Sky City, Elysian, Three Sixty West and the Commerz office assets. Its on-time or near-on-time delivery record is one of the points most often cited by market observers. In November 2025, the company entered a similar development agreement for a parcel on Nepean Sea Road, which places the Peddar Road plot within a broader South Mumbai redevelopment strategy.
What comes next
The Peddar Road project is scheduled for the second half of FY27, and the company's launch pipeline for the third quarter also includes projects in Pokhran Road, Kolshet, Alibaug and possibly Mulund. Management is expected to share further detail on Aurelius at Pedder Road as the launch approaches, and an analyst note from Motilal Oswal has already named the Peddar Road development among the company's upcoming projects.
Buyers following the project can track updates through the Aurelius at Pedder Road project page, which will carry the latest information on configurations and launch timing as they are confirmed.