Oberoi Realty, a leading Mumbai-based real estate developer, has announced the successful launch of Elysian Tower D at Oberoi Garden City, Goregaon, with bookings worth ₹970 crore. In a regulatory filing, the company reported sales of 2.1 lakh sq. ft. of RERA carpet area, translating to a total saleable area of 3.25 lakh sq. ft.

Situated across an expansive 80-acre integrated development, Oberoi Garden City combines premium residential living with world-class infrastructure including Grade-A office spaces, Oberoi Mall, Oberoi International School, and The Westin Mumbai Garden City hotel. The newly launched Elysian Tower D offers spacious 3- and 4-BHK residences ranging from 2,009 to 3,430 sq. ft. in carpet area.

“We are truly delighted by the overwhelming response to the launch of Elysian Tower D. This validates our long-term vision of creating integrated urban developments that redefine luxury living,” said Vikas Oberoi, Chairman and Managing Director of Oberoi Realty. “The success of Towers A, B, and C, and now D, reflects the strong ecosystem we’ve built in Goregaon.”

Despite the successful launch, Oberoi Realty reported a dip in financial performance for Q4 FY2024-25. According to a Mint report, the company posted a 45% drop in consolidated net profit, falling to ₹433.17 crore from ₹788.03 crore in the same quarter of the previous fiscal. Revenue from core operations also declined 12.5% to ₹1,150.14 crore from ₹1,314.77 crore year-on-year.

The launch of luxury apartments like Elysian Tower D comes at a time when affordability remains a key driver in Mumbai’s real estate market. Data from the Maharashtra Real Estate Regulatory Authority (MahaRERA) shows that in 2024, 50% of registered properties were under 650 sq. ft., with 1 BHK and 2 BHK units accounting for nearly 60% of the total supply.

Out of 63,244 units launched across Mumbai in 2024:

• 36,274 units were 1 and 2 BHK apartments
  
• Over 10,000 units (15%) were 3 BHK
  
• Nearly 2,000 units (3%) were 4 BHK

This suggests that while the market for luxury housing remains strong in select pockets like Goregaon, affordability and compact living continue to dominate Mumbai’s broader residential trends.

Knowledge Source : https://www.hindustantimes.com/real-estate/oberoi-realty-sells-2-1-lakh-sq-ft-of-apartments-worth-rs-970-crore-in-mumbais-goregaon-101746430547777.html