Oberoi Realty has entered into an agreement for the development of land measuring approximately 81.05 acre (3,28,010 sq metres), located at village Tekali, Alibaug.

Of this land, approximately 8.6 acre (34,803 sq metres) will be designated and transferred to the company for the construction of a high-end luxury star hotel or resort, with a Floor Space Index (FSI) of about 30,000 sq metres.

For the remaining land, which spans approximately 72.45 acre (2,93,207 sq metres), the company plans to develop around 150 high-end, fully serviced, branded residential villas, utilising an FSI of approximately 1,20,000 sq metres.