OBEROI VERSOVA (ARAM NAGAR MHADA REDEVELOPMENT) — New Project Coming Up in Aram Nagar, Mumbai
Oberoi Realty Advances Development Pipeline with Aram Nagar MHADA Agreement
Oberoi Realty has finalized a development agreement with the Maharashtra Housing and Area Development Authority (MHADA) for a prime land parcel in Aram Nagar, Versova, Mumbai, signed on March 16, 2026. The company has signed a development agreement with MHADA for a land parcel in Aram Nagar, Versova, marking its latest move in the city's redevelopment space.
Project Scale
The company expects to receive approximately 17.18 lakh sq ft of RERA carpet area as its free sale component from the Versova project, excluding the rehab component for existing tenants, and subject to statutory approvals and applicable regulations. The final outcome will depend on regulatory approvals under the Development Control and Promotion Regulations (DCPR) 2034.
Location and Connectivity
The project is located in Andheri within a well-established residential and commercial area that continues to observe consistent demand. Aram Nagar is a neighborhood in Andheri, a suburb of Mumbai, spanning 20 acres and located adjacent to Versova, in Andheri West of Mumbai.
Versova Metro Station on Blue Line lies 1 km linking it to Ghatkopar, Andheri West Metro on Yellow Line is about 2 km from Aram Nagar, Andheri and Jogeshwari railway stations are nearly 5 km from here, and Mumbai International Airport lies 8 km via Western Express Highway. The locality has a rich cultural scene with theaters, art galleries, and music venues nearby and is well-connected to major roads and public transport systems.
About Oberoi Realty
Oberoi Realty Limited traces its operating roots to the early 1980s in Mumbai, with formal incorporation in 1998 under the Companies Act and a listing on the Bombay Stock Exchange and National Stock Exchange following its conversion to a public limited company in December 2009. Geographically, the company has operated primarily within the Mumbai Metropolitan Region, building depth across Goregaon, Andheri, Mulund, Borivali, Juhu, Worli, and Thane.
Oberoi Realty has delivered 49 completed projects across Mumbai, aggregating well over 35 million square feet of built space, and carries an ongoing pipeline of approximately 30 million square feet across seven active execution-phase projects. The company is building a formidable pipeline in some of the city's most sought-after locations, combining this recent MHADA deal in Versova with other recent initiatives.