Oberoi Realty to Redevelop Nepean Sea Road Land Parcel

Mumbai-based listed real estate developer Oberoi Realty announced on November 26 that it will redevelop a 4,706 sq m land parcel at Nepean Sea Road, one of South Mumbai’s most premium residential zones.

The company confirmed that it has entered into a formal Development Agreement for the redevelopment, with its free sale component estimated at 1.18 lakh sq ft (RERA carpet area).

This entitlement remains subject to the Development Control and Promotion Regulations (DCPR) 2034 and applicable laws governing redevelopment in Mumbai.

Key Highlights

• Oberoi Realty to redevelop 4,706 sq m at Nepean Sea Road with 1.18 lakh sq ft free sale
• Carter Road and Goregaon projects continue strong Mumbai expansion
• First Gurugram project to launch this fiscal with approvals nearly complete

This announcement follows multiple major development moves by Oberoi Realty in recent years. In May 2025, the company launched Elysian Tower D at Oberoi Garden City in Goregaon, a high-demand micro-market in Mumbai. The project recorded a gross booking value of Rs. 970 crore for 2.1 lakh sq ft (RERA carpet area), with a total saleable area of 3.25 lakh sq ft, as per its regulatory filing.

Earlier, in July 2024, Oberoi Realty disclosed an agreement to develop and redevelop a 2,576 sq m land parcel on Carter Road, Bandra (West)—another premium suburban location. From this redevelopment, the company expects to generate a free sale component of nearly 40,000 sq ft (RERA carpet area) under DCPR 2034 provisions.

"We have opened our office in Gurugram, which shows our expansion plans for NCR are in place. On the Gurugram front, you will be happy to know that we have also loaded the entire TDR on the file. So, 100% of this area will be approved at one go. And we are hoping, we are really, really hoping to launch it within this financial year itself," Oberoi had said during the call.

Also Read: Oberoi Realty to enter Delhi-NCR with luxury project

Additionally, the company is expanding beyond Mumbai. In October, Oberoi Realty confirmed plans to launch its first project in Gurugram within the current financial year. Chairman and Managing Director Vikas Oberoi stated that most approvals are already secured, and the launch is expected before the fiscal year-end.