Oberoi Realty Signs Second Malabar Hill Development Agreement for ~2,430 Sq Metre Land Parcel; Free-Sale Component up to ~68,000 Sq Ft

Oberoi Realty Acquires Second Malabar Hill Development Agreement

Oberoi Realty entered into a Development Agreement for redevelopment of land admeasuring approximately 2,430 square meters at Malabar Hill, Mumbai on July 29, 2026. The Company's entitlement of free sale component from the redevelopment is estimated to be up to approximately 68,000 square feet (RERA Carpet area), subject to the provisions of Development Control and Promotion Regulations for Greater Mumbai, 2034 and applicable law.

Cluster Development Structure

Like its April 2026 acquisition, this latest agreement follows the cluster redevelopment model. 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.

Malabar Hill remains one of the city's costliest zones with high capital values. The shift toward joint developments and redevelopment schemes is driven by high land acquisition costs and scarcity of raw plots.

Oberoi Realty's South Mumbai Expansion

Oberoi Realty has developed approximately 47 projects at locations across the Mumbai skyline, aggregating about 13.65 million square feet of space, with residential projects including Oberoi Splendor, Oberoi Splendor Grande, Prisma by Oberoi Realty, Elysian by Oberoi Realty, and Esquire by Oberoi Realty.

This Malabar Hill agreement represents a continuation of the developer's focus on premium redevelopment opportunities in South Mumbai. The company has also been active in other parts of the city, recently entering into an agreement for a land parcel in Versova and earlier emerging as the highest bidder for a large land parcel in Bandra East with a bid of around INR 5,400 crore.