Oberoi Realty Signs Malabar Hill Cluster Redevelopment Agreement for ~1,740 Sq Metre Land Parcel; Free-Sale Component up to ~51,000 Sq Ft
Oberoi Realty Enters Malabar Hill Cluster Redevelopment
Oberoi Realty Limited has entered into a development agreement for redevelopment of land measuring approximately 1,740 square meters at Malabar Hill, Mumbai, to be developed along with adjoining societies under a cluster development scheme, with the company's free-sale entitlement estimated at up to 51,000 square feet of RERA carpet area. The agreement was signed on April 1, 2026.
The entitlement is subject to the provisions of Development Control and Promotion Regulations for Greater Mumbai, 2034 and applicable law.
Strategic Positioning in South Mumbai
Malabar Hill is one of Mumbai's most premium residential areas. The acquisition reflects Oberoi Realty's ongoing focus on the South Mumbai redevelopment corridor. The move comes soon after the company secured a redevelopment deal at Peddar Road and reflects its steady focus on South Mumbai, where limited land supply and strong demand continue to drive redevelopment activity.
Malabar Hill and nearby areas have been seeing increased redevelopment activity in recent years, with older residential buildings being replaced with modern luxury developments driven by strong buyer demand, better infrastructure, and limited availability of fresh land, with developers focusing on such micro-markets as they offer premium pricing and relatively stable demand despite market fluctuations.
Cluster Redevelopment Model
The project will be undertaken under a cluster development approach, which allows multiple adjoining plots to be redeveloped together for better planning and higher development potential. This structure is particularly relevant in Malabar Hill, where heritage protections and density controls govern development.
Oberoi Realty's Land Acquisition Momentum
Oberoi Realty has completed 50 projects across Mumbai, covering 161 lakh square feet of developed area. The company has built a strong launch pipeline for FY27 including projects such as Fairview at Malabar Hill, and has acquired approximately 4 million square feet across the Mumbai Metropolitan Region comprising RLDA in Bandra East and three redevelopment projects including at Malabar Hill.
Oberoi Realty has also entered into an agreement for a land parcel in Versova and emerged as the highest bidder for a large land parcel in Bandra East with a bid of approximately INR 5,400 crore.
About Oberoi Realty
Oberoi Realty was established in the early 1980s and is now led by Vikas Oberoi. The company boasts an impressive portfolio encompassing over 30 projects, spanning more than two million square feet across Mumbai's landscape.
The company develops residential, commercial, hospitality, retail, and social infrastructure projects, with major products and services including residential apartments, commercial office spaces, retail spaces, and hospitality services.