South Mumbai Launch
Oberoi Realty Signs Peddar Road Redevelopment: 1.4 Lakh Sq Ft Premium South Mumbai Launch
On 30 March 2026, Oberoi Realty signed a development agreement for the redevelopment of two adjacent housing societies on Peddar Road, with gross sales potential estimated at over ₹1,500 crore. The project, currently at the pre-RERA stage, represents the developer's latest move into South Mumbai's ultra-luxury redevelopment segment and features 3 and 4 BHK configurations targeting HNI buyers.
| Developer | Oberoi Realty |
|---|---|
| Location | M.L. Dahanukar Marg and Dr. G. Deshmukh Marg, Peddar Road, South Mumbai |
| Agreement Signed | 30 March 2026 |
| Land Area | Approximately 4,800 square metres |
| Free-Sale Entitlement | Up to 1.40 lakh sq ft of RERA carpet area |
| Gross Sales Potential | Over ₹1,500 crore (ICICI Direct estimate) |
| Product Type | 3, 4 & 5 BHK luxury flats |
| Expected Possession | December 2029 |
| Status (as of September 2026) | Pre-launch; RERA registration typically follows 12–24 months after development agreement in South Mumbai redevelopments |
| Comparable Market Pricing | Surrounding Peddar Road properties trade between ₹66,000 and ₹1,06,000 per sq ft |
Project Overview & Status
On 30 March 2026, the listed developer informed stock exchanges that it has signed a development agreement for the redevelopment of two adjacent housing societies on Peddar Road in South Mumbai. The development agreement pertains to the 'Silverene Cooperative Housing Society Ltd.' and 'Oceanic Cooperative Housing Society Ltd.', both strategically situated on Peddar Road. The combined land area is approximately 4,800 square metres, with Oberoi Realty's free sale component estimated at up to 1.4 lakh sq ft of RERA carpet area.
The project is currently at the development agreement stage and has not yet filed for RERA registration. Projects of this complexity in South Mumbai usually take 12 to 24 months to move from signed agreement to RERA registration and public launch, meaning the Peddar Road project will likely reach market in FY27 or later.
Product Configuration & Pricing
The project offers 3, 4 & 5 BHK luxury flats with ultra-modern amenities. No official price sheet has been released, as the project remains at the pre-launch stage.
Surrounding Peddar Road properties currently trade between roughly ₹66,000 and ₹1,06,000 per sq ft, and analysts expect Oberoi to command a premium over this range. ICICI Direct Research estimates the project's gross sales potential at more than ₹1,500 crore.
Timeline & Possession
The project is currently in the pre-launch stage, with RERA details coming soon and possession expected by December 2029. Projects of this complexity in South Mumbai usually take 12 to 24 months to move from signed agreement to RERA registration and public launch.
Locality Context & Infrastructure
Peddar Road is considered among the city's most premium residential stretches, offering established infrastructure and strong connectivity. Peddar Road sits in the heart of South Mumbai's most exclusive residential belt, connecting Kemps Corner to Haji Ali along one of the city's most storied addresses.
Girgaon Metro Station on Aqua Line 3 was inaugurated on 9 October 2025 and is an underground station on the North-South Corridor, giving Peddar Road residents genuine rapid-transit access for the first time. Peddar Road is well served by social infrastructure, including schools such as Activity High School, Hill Spring International School, hospitals like Jaslok Hospital and Research Center, and shopping malls including CB Shopping Mall and Bay Side Mall.
Market Demand & Strategic Context
The Peddar Road redevelopment by Oberoi Realty is expected to significantly alleviate the demand-supply imbalance for premium residential units in South Mumbai. With limited new land available, redevelopment is the primary avenue for introducing modern housing stock. South Mumbai, and Peddar Road in particular, has always been a magnet for High-Net-Worth Individuals (HNIs) and Non-Resident Indians (NRIs) seeking prime real estate investments.
The project features in Oberoi Realty's 12-project FY27 launch pipeline disclosed on its May 11, 2026 Q4FY26 results call, alongside Oceanic Carter Road, Fairview Malabar Hill, Alibaug and the Bandra RLDA parcel.
Frequently asked questions
What is the project's current status?
The project is only at the development-agreement stage as of March 2026; RERA registration typically follows 12–24 months after such agreements in comparable South Mumbai redevelopments.
When will Oberoi Peddar Road be ready for possession?
The expected possession date is December 2029.
What is the saleable area of the project?
The company estimates its free sale entitlement to be up to 1.40 lakh square feet of RERA carpet area.
What is the estimated price range?
Surrounding Peddar Road properties currently trade between roughly ₹66,000 and ₹1,06,000 per sq ft, and analysts expect Oberoi to command a premium over this range. No official price sheet exists yet.
Which developer is executing this project?
Oberoi Realty is India's leading real estate development company, headquartered in Mumbai. A listed entity, it is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.
What are the unit configurations offered?
The project offers 3, 4 & 5 BHK luxury flats with ultra-modern amenities.