Oberoi Realty secures two Malabar Hill redevelopment sites for Upcoming project
Published
Oberoi Realty Limited has taken a further step on Oberoi Malabar Hill Redevelopment, a cluster redevelopment on land at Malabar Hill, Mumbai, built under the Maharashtra cluster scheme with adjoining societies. Two development agreements signed in 2026 have secured the land, and the project is at the Upcoming stage, ahead of its launch.
The first agreement, signed on 1 April 2026, covers land of about 1,740 sq m. The second, signed on 29 July 2026 and disclosed to stock exchanges, covers about 2,430 sq m, or roughly 0.60 acre. Together the two parcels carry a free-sale entitlement of up to about 51,000 sq ft and up to about 68,000 sq ft RERA carpet area respectively, subject to DCPR 2034 and approvals.
Key figures in the Malabar Hill deal
- First agreement: about 1,740 sq m of land, signed 1 April 2026
- Second agreement: about 2,430 sq m (about 0.60 acre) of land, signed 29 July 2026
- Free-sale entitlement: up to about 51,000 sq ft and up to about 68,000 sq ft RERA carpet area
- Stage: Upcoming, as of November 2026
What the agreements mean for buyers
The sizes above describe the saleable scale the developer can bring to market from the contracted land, which gives a sense of how many homes the site may yield. ICICI Direct analysts estimate the gross development value of the project at about Rs 1,020-1,360 crore, based on a rate of Rs 1.5-2.0 lakh per sq ft. Buyers tracking the project should note that these figures are analyst estimates and the developer's own plans will shape the final unit mix.
The second agreement was described as the company's first business development of FY27, which places the Malabar Hill site among the early deals of the current financial year for the developer.
Malabar Hill as a redevelopment market
Malabar Hill is one of Mumbai's costliest micro-markets, where land supply is scarce and redevelopment is the main route to new homes. Because open land is rare on the hill, cluster projects that combine several adjoining societies are one of the few ways new residential stock reaches the area. Homes in this locality are regarded as a long-term holding in the South Mumbai market, and projects that consolidate land in the area draw attention for that reason.
Oberoi Realty's recent activity
Oberoi Realty reported consolidated revenue of Rs 1,361.69 crore and profit after tax of Rs 544.71 crore for the first quarter of FY27. Earlier in 2026 the developer also signed another South Mumbai redevelopment on Peddar Road, with about 1.40 lakh sq ft of free-sale area. Taken together, the Peddar Road and Malabar Hill agreements show the developer adding redevelopment sites in premium South Mumbai localities during the same year.
What comes next
Analysts place the launch of Oberoi Malabar Hill Redevelopment in FY27. Once the project moves toward launch, the next updates buyers can watch for are the pricing, the unit mix and the approvals that will confirm the final scale of the homes on the site.