In one of the first private equity transactions in the real estate space in India, ICICI Venture partnered with Oberoic Constructions Private Limited in a 50:50 JV to purchase a prime 4 acre plot in Worli from Glaxo SmithKline for building an ultra high-end residential complex.

ICICI Venture made the investment in purchase of land in 2004. The by-invitation only sales for the project have begun in late 2006 and have been met with an extremely positive response.