Oberoi Realty Limited has signed a development agreement for the Malabar Hill redevelopment project in Mumbai. The agreement was disclosed through a regulatory filing on Wednesday, April 1. The project involves redevelopment of an anticipated 1,740 SqM land parcel in the Malabar Hill area.
The developer will undertake the redevelopment under the cluster development scheme along with adjoining societies. The project is will generate a free sale component of up to 51,000 SqFt (RERA carpet area), subject to applicable regulations. The project aims to optimise land use and enable high-value residential development in a prime urban location.
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Once completed, the Oberoi Malabar Hill redevelopment project will contribute to the ongoing transformation of South Mumbai’s premium residential market. It will also support redevelopment-led urban renewal and improve housing infrastructure in the Malabar Hill area.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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