India, March 17 -- Mumbai-based listed real estate developer, Oberoi Realty, has inked a development agreement (DA) with Maharashtra Housing and Area Development Authority (MHADA) for a land parcel in Mumbai's Versova area.

The company announced on March 16 that it has entered into a development agreement for MHADA-owned land in Aram Nagar, in the Versova area of Andheri West, Mumbai.

"Based on the extant provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2034, the company expects its share of the free sale component to be approximately 17.18 lakh square feet (RERA carpet area) (excluding its share of rehab component for existing tenants) from the development of the project Land, subject to statutory app...