Oberoi Realty
Oberoi Realty has secured 81.05 acres of land in Alibaug, located in Maharashtra’s Raigad district, for a premium real estate project. The development plan includes luxury villas and a five-star hotel, following a signed agreement with the landowners.
Approximately 8.6 acres of the land will be allocated for the hotel, featuring a floor space index (FSI) of 30,000 square meters. The remaining 72.45 acres will be utilized to construct around 150 high-end, fully serviced, branded residential villas, utilizing an FSI of approximately 120,000 square meters.
As part of the agreement, the landowners will receive a share of revenue and area from the residential project. In a filing with the stock exchange on Monday, Oberoi Realty confirmed that they have taken physical possession of the land following the agreement’s execution.
Alibaug has emerged as a hub for luxury real estate due to its proximity to Mumbai, scenic appeal, and growing demand for vacation homes. The coastal town has become a favored location for high-net-worth and ultra-high-net-worth individuals, as highlighted by real estate consultancy Anarock.
Additionally, Alibaug is set to benefit from improved connectivity with Mumbai and beyond through a proposed multimodal corridor linking it to Virar, approximately 150 km to the north. The corridor, which includes an 8-14 lane expressway, has an estimated project cost of ₹55,000 crore and will be developed by the Maharashtra State Road Development Corporation (MSRDC), according to Housing.com.
In October 2024, Emaar India also announced plans to enter the Maharashtra market with a luxury project in Alibaug, underscoring the region’s growing prominence in the real estate sector.
Chirag Singh is a content writer with a focus on real estate, covering topics like News, Guidance, Tips, Property trends and Investments. He has written for various platforms, providing helpful insights to readers. With a background in real estate, Chirag combines his knowledge and passion for real estate in his work. He enjoys staying updated on the latest industry trends.
