Oberoi Realty entered into development agreement for 1,740 sq meters at Malabar Hill under cluster development scheme with adjoining societies. Free sale component entitlement estimated at 51,000 sq ft.

Previous agreement: 4,800 sq meters aggregate at M.L. Dahanukar Marg and Dr. G. Deshmukh Marg, Peddar Road. Free sale component entitlement estimated at 1.40 lakh sq ft.

Oberoi Realty partnered with two adjacent housing societies for redevelopment of a land parcel of approximately 4,800 sq m. Located on M.L. Dahanukar Marg and Dr. G. Deshmukh Marg in South Mumbai, the project is expected to yield a free-sale component of up to 1.40 lakh sq ft (RERA carpet area), subject to prevailing regulations. The developer disclosed the partnership under Regulation 30 of Securities and Exchange Board of India norms to the Bombay Stock Exchange and National Stock Exchange of India. Peddar Road is among the city's most premium residential stretches with established infrastructure and strong connectivity.

Oberoi Realty entered a development agreement to redevelop two housing societies on Peddar Road, South Mumbai. Land parcels situated along M L Dahanukar Marg and Dr G Deshmukh Marg have combined area of around 4,800 square metres. Free sale component from project could reach up to 1.40 lakh square feet of RERA carpet area. Development governed by Development Control and Promotion Regulations for Greater Mumbai, 2034. ICICI Direct Research estimates project could generate gross sales exceeding ₹1500 crore. Location in sought-after South Mumbai residential pocket could allow premium pricing. Project launch expected in medium term. Oberoi Realty also signed separate development agreement with MHADA for Versova's Aram Nagar area in Andheri West, and bid ₹5,400 crore for 11 acre land parcel in Bandra East from Rail Land Development Authority in February 2025.

Peddar Road stands out in Mumbai not just for affluence but for unique social barriers where immense wealth or celebrity status doesn't guarantee acceptance. The locality is domain of "the rich and the super rich," home to figures like the Tata chairman and Mukesh Ambani.

Bollywood celebrities often face unofficial hurdles when attempting to purchase homes, with societies viewing actors as a "nuisance" and imposing informal restrictions. The exclusivity extends to elite social institutions like the Willingdon Club, which is known for discerning membership criteria and reportedly does not favor Bollywood actors or those deemed unsophisticated.

Journalist Vishal Bhargava noted that billionaire investor Rakesh Jhunjhunwala was rejected three times in attempts to gain membership to the Willingdon Club. Bhargava emphasized: "It's not that you have money, it's that money is not enough in Peddar Road, you need to have something more than money." Being "rich and famous" can be a disqualification, while "rich and sophisticated" individuals have better odds of acceptance in this ultra-exclusive precinct.

The BMC dereserved a 4,500-square-metre plot on Carmichael Road, also known as ML Dahanukar Marg, in Development Plan 2034. Reserved for a children’s park in 1991, the green space has faced repeated dereservation proposals and residents’ opposition. Activist Zoru Bhathena said the plot falls under Coastal Regulation Zone (CRZ) protections, which classify green plots as Non-Development Zones (NDZ), and plans to write to the CRZ Authority.

Residents from Altamount Road, Pedder Road and Carmichael Road successfully campaigned to re-reserve the plot as a children’s park in the proposed DP in 2017, after residential development was proposed. In 2002, the BMC general body approved acquiring the privately owned plot, but the acquisition was not completed within the required timeframe. A BMC Development Plan department official said structures were observed during DP 2034 planning and the plot was dereserved in 2018.