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New Delhi: Mumbai’s Bandra Bay is poised to undergo a massive luxury real estate transformation worth over Rs 1 lakh crore, as developers race to tap into the surging demand for waterfront living, according to a new report. The joint study by Lighthouse Luxury and data analytics firm CRE Matrix, titled ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment’, highlights that nearly 8 million sq ft of premium residential and retail projects are planned in the coveted Bandra Bay area. Mumbai’s New ‘Waterfront Capital’ The report notes that Mumbai is on track to become the “Waterfront Capital” of India, with a new luxury belt emerging alongside the bustling Bandra-Kurla Complex. The upcoming cluster is expected to redefine high-end urban living with a mix of ultra-luxury residences and high-street retail. Bandra Bay has a total development potential of over ₹1 lakh crore, making it one of the most ambitious luxury waterfront projects in the country. Global Benchmarks, Local Potential “Bandra Bay is set to become the most prestigious and ambitious luxury waterfront redevelopment in Mumbai. Comparable to global benchmarks such as Dubai Marina, Palm Jumeirah and Singapore's Marina Bay, the development here offers investors an opportunity to own a slice of India's most coveted real estate,” the report said. About 11 top developers, including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty and The Wadhwa Group, have already committed to projects in Bandra Bay. More developers are expected to follow with large-scale, mixed-use developments. Magnet for Ultra HNIs and NRIs Sumesh Mishra, Founder of Lighthouse Proptech, said Bandra Bay would be “the most desired address in India,” drawing ultra-high-net-worth individuals (UHNWIs), NRIs and global investors seeking an iconic waterfront lifestyle. Abhishek Kiran Gupta, CEO of CRE Matrix, added, “Our data shows that Bandra Bay will emerge as Mumbai's most valuable waterfront asset. Limited curated supply, elite demand, and unparalleled infrastructure synergy will drive sustained capital appreciation.” (With inputs from PTI)
