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Mumbai is gearing up for a new era in luxury living with the emergence of 'Bandra Bay', a waterfront belt alongside Bandra-Kurla Complex. According to a report unveiled jointly by Lighthouse Luxury and CRE Matrix, the development, estimated at over INR 1 lakh crore, will encompass about 8 million sq. ft. of high-end residential and retail projects. The report highlighted Bandra Bay's potential to rival global icons like Palm Jumeirah and Marina Bay, citing strong infrastructure, limited supply, elite demand, and unmatched connectivity as key growth drivers.
Mumbai is set to be redefined as India's 'Waterfront Capital' with the emergence of 'Bandra Bay', a premium coastal development adjoining the Bandra-Kurla Complex. The area, projected to witness real estate investments exceeding INR 1 lakh crore, will host around 8 million sq. ft. of luxury residential and retail developments. This insight was presented in the analytical report titled 'Why Bandra Bay is Mumbai's Most Iconic Waterfront Investment', launched jointly by Lighthouse Luxury and CRE Matrix earlier this week. Advertisement
The report was officially unveiled by Shri Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra, during an event in Mumbai attended by prominent industry leaders including Dr. Niranjan Hiranandani of Hiranandani Group, Mr. Vijay Thakkar of DLH, and other notable developers. Lighthouse Luxury, part of Lighthouse Proptech, collaborated with CRE Matrix to evaluate the potential of Bandra Bay as a global mixed-use destination on par with international benchmarks such as Dubai's Palm Jumeirah and Singapore's Marina Bay.
Spanning over 140 acres, the master-planned redevelopment of Bandra Reclamation aims to create Mumbai's most exclusive waterfront neighbourhood. The report identified nine key growth drivers underpinning Bandra Bay's rise, including strategic location, iconic sea-facing architecture, international amenities, and sustainability-led design. With Mumbai's waterfront homes already commanding a 15-20% price premium, Bandra Bay is expected to outperform the city's average growth, surpassing luxury precincts like Juhu and Worli.
According to the report, over INR 2,62,889 crore has been invested in transport infrastructure since 2002, enhancing Mumbai's connectivity through projects such as the Coastal Road, Atal Setu Bridge, Metro corridors, and the upcoming Bullet Train. This has firmly positioned Bandra Bay as a seamlessly connected urban hub linking South Mumbai, Bandra-Kurla Complex, and the airport within minutes. The report projected that the BKC area would add 7 million sq. ft. of Grade A office space in the next five years, creating increased demand for luxury homes among approximately 8,000 CXOs by 2030.
Waterfront residences in this emerging corridor are expected to be priced around INR 1.2 lakh per sq. ft., with significant potential for appreciation, following trends similar to Worli's 46% higher pricing over Bandra West. Major developers such as Adani Realty, Oberoi Realty, Hiranandani Communities, L&T Realty, and Godrej Properties are already active in Bandra Bay's growth plan.
Minister Ashish Shelar remarked that the Bandra-Kurla catchment is poised to transform into a world-class township integrating infrastructure, innovation, and culture, setting new benchmarks for urban excellence. Shri Sanjeev Jaiswal, Vice President & CEO of MHADA, noted that Bandra Bay represented a major step in urban renewal through cluster development, enhanced connectivity, and sustainable design. Dr. Niranjan Hiranandani highlighted the region's strategic placement, luxurious architecture, and evolving urban sophistication.
Sumesh Mishra, Founder of Lighthouse Proptech, expressed pride in coining the term 'Bandra Bay', stating that it symbolised a movement redefining luxury living for ultra HNIs, NRIs, and global investors. CRE Matrix CEO Abhishek Kiran Gupta added that Bandra Bay would emerge as Mumbai's most valuable waterfront asset, driven by elite demand, limited supply, and infrastructure synergy.
Bandra Bay marks the beginning of Mumbai's next major transformation, blending financial power, cultural dynamism, and coastal appeal. With its strategic location, superior infrastructure, and strong developer participation, it is expected to become India's most aspirational luxury address. As global investors and high-net-worth individuals turn their attention to this coastal hub, Bandra Bay is positioned to elevate Mumbai's stature into the league of international waterfront capitals, setting a new benchmark in premium urban living.
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