New Delhi, March 17 -- Oberoi Realty is accelerating focus on business development with strategic land acquisitions in Mumbai. On Monday, it entered into a development agreement with Maharashtra Housing and Area Development Authority (MHADA) for redevelopment of Aram Nagar in Andheri West.

Its share of the free sale component from this project is expected to be 1.72 msf in RERA carpet area. The project can command Rs.50,000-55,000 per ft, implying a gross development value (GDV) or revenue potential of Rs.9,000-10,000 crore, estimates JM Financial Institutional Securities.

Last month, Oberoi emerged as the highest bidder for Railway Land Development Authority's over 11.21-acre prime land parcel in Mumbai's Bandra with a Rs.5,400 crore b...