India, April 2 -- Mumbai-based real estate developer Oberoi Realty has signed a development agreement (DA) for the redevelopment of a 1,740 sq m land parcel in South Mumbai's Malabar Hill area. The company plans to undertake the project under the Maharashtra government's cluster development scheme.

According to the company, the said land is proposed to be developed along with other adjoining society/ies under the cluster development scheme.

"The company's entitlement of free sale component from the said land is estimated to be up to 51,000 square feet (RERA Carpet area), subject to the provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034 and applicable law," Oberoi Realty said in a regulatory filing.

Accor...