Oberoi Realty signs MHADA deal for 17 lakh sq ft Versova redevelopment
Published
A new residential redevelopment in Versova
Oberoi Realty Limited has entered into a development agreement with the Maharashtra Housing and Area Development Authority (MHADA) for land parcels at Aram Nagar, Versova, in Andheri West, Mumbai. The agreement was announced on 16 March 2026, and the project is being brought to market under the name Oberoi Versova.
The redevelopment covers a saleable area of approximately 17.18 lakh square feet, measured by RERA carpet area. That figure refers to the developer's free-sale share and excludes the rehabilitation component designated for existing tenants on the same land. The project is currently at the acquisition and pre-launch stage, with pricing to be announced on request.
The details buyers should know
The project is a mixed-use residential redevelopment on government-owned land, with a rehabilitation component for existing occupants built into the plan. The development agreement with MHADA is progressing alongside the statutory approvals required under the Development Control Regulations for Greater Mumbai, and no construction has begun.
Residences are planned as luxury apartments, with the developer describing each home as designed to maximise natural light and offer views of the Arabian Sea. The developer's listed highlights for the project include:
- An infinity edge pool and a grand double-height lobby
- Smart home automation and private elevators
- EV charging stations and five-tier security
- A fitness club, a kids play area, a terrace game zone and a star gazing zone
- More than 50 amenities in total, as advertised on the project site
Unit sizes, configurations, the launch date and the expected possession timeline for Oberoi Versova are yet to be announced. Buyers tracking the project can follow updates on the related project page on this site.
Connectivity around Versova
Versova is served by Line 1 of the Mumbai Metro, which runs between Versova and Ghatkopar and opened on 8 June 2014. Line 1 connects with Line 2A, Line 3 and Line 7, and Andheri station provides an interchange between the Mumbai Suburban Railway and the metro. Versova Beach is a short distance away, and Andheri is a few kilometres to the east.
Road connectivity is set to improve over the next two years. The Versova–Bandra Sea Link, a 17.17 km bridge that will run from Versova to the Bandra–Worli Sea Link, has an opening target of August 2027. The Versova–Yari Road bridge, a 206-metre crossing over Kavathe Creek, has a completion deadline of December 2027 set by the civic body. The JVPD flyover, 1.75 km long and targeted for December 2027, is planned to link with an arm of the sea link. A proposed Versova–Bhayander coastal road is also planned to take traffic off the Western Express Highway.
A developer with four decades in Mumbai
Oberoi Realty has been building in Mumbai for about four decades and was incorporated in 1998 under the Companies Act, 1956. The company is listed on BSE and NSE and is chaired by Vikas Oberoi as chairman and managing director. It has delivered 51 projects spanning approximately 17.3 million square feet, with another 34 million square feet under development. Its FY26 consolidated revenue stood at ₹6,009 crore.
The developer's recent activity extends beyond Mumbai. Oberoi Garden City in Thane, a 75-acre integrated township, recorded gross bookings of about ₹1,348 crore within its first three days in October 2024. In 2025 the company acquired 14.81 acres in Gurugram for ₹597 crore, and in June 2026 it launched Three Sixty North there. In Andheri West, the developer's sister project Oberoi Springs offers 2 and 3 BHK homes ranging from 986 to 1,295 sq ft, with a current rate of ₹45,950 per sq ft for the September 2026 quarter.
What comes next
The immediate next step is the progress of the MHADA development agreement through the statutory approval process. Pricing, unit configurations and the launch of bookings for Oberoi Versova are expected to be announced in the coming months. The project's scale, location and the infrastructure arriving in the area over 2027 position it as one of the larger residential redevelopments planned in Versova's western suburbs.