Oberoi Realty Limited has announced the execution of a development agreement for a sprawling piece of land spanning 81.05 acres (approximately 3,28,010 square meters), located in the serene and picturesque village of Tekali, Taluka Alibaug, District Raigad, Maharashtra. This ambitious project is set to redefine luxury living and hospitality in the region, catering to discerning customers seeking exclusivity and sophistication.
Key Highlights of the Project
- 5-Star Luxury Hotel/Resort: A dedicated 8.6-acre (34,803 square meters) parcel, with a Floor Space Index (FSI) of 30,000 square meters, earmarked for a high-end luxury hotel or resort.
- Luxury Residential Villas: The remaining 72.45 acres (293,207 square meters) will host approximately 150 fully serviced, branded luxury villas, utilizing an FSI of 120,000 square meters.
The transaction with the landowners involves a revenue and area-sharing model for the residential project. Physical possession of the land has already been secured, marking a significant milestone for Oberoi Realty in redefining luxury living and hospitality in Alibaug.