Oberoi Realty enters into agreement to develop, redevelop 13,450 sq m land parcel in Mumbai

Oberoi Realty has entered into an agreement to develop and redevelop 13,450 square meter in Mumbai.

The land parcel at Tardeo, Mumbai City, is adjoining a property already being redeveloped by the company in a joint venture, the company stated in a regulatory filing.

Currently, there are structures on this land parcel, which are tenanted by Municipal Corporation of Greater Mumbai in favour of various persons.

''The company expects to generate a free sale component of around 2.5 lakh square feet (on carpet area) from the development and redevelopment of the said land,'' Oberoi Realty said.

Mumbai-based Oberoi Realty is one of the leading real estate developers in the country.