Mumbai is soon set to become a ‘Waterfront Capital’ of India with a new waterfront belt emerging alongside Bandra – Kurla Complex, a bustling business district and a luxury residential cluster of Mumbai.
Termed as ‘Bandra Bay’ by the real estate developers’ fraternity, this new waterfront destination in Bandra has a development potential of over Rs 1 Lakh crore with various ultra-luxury real estate projects being planned along the emerging Bandra waterfront, revealed an exclusive report titled: ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment,’ jointly developed and launched by Lighthouse Luxury and CRE Matrix. Positioned as India’s most sought – after luxury waterfront development, the ‘Bandra Bay’ area will see a massive development of nearly 8 million sq. ft. of premium residential and retail projects, estimated the report.
The Report was unveiled at the hands of Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra at an event held in Mumbai on October 15.
Lighthouse Luxury, a part of Lighthouse Proptech, which is a premium ultra-luxury real estate listing platform and CRE Matrix jointly, launched an analytical report evaluating the potential of an upcoming waterfront of Mumbai’s Bandra to turn into a global ultra-luxury residential and mixed use development destination at par with Singapore’s Marina Bay or Palm Jumeirah of Dubai.
The event witnessed the presence of eminent dignitaries including Shri Sanjeev Jaiswal, Vice President & CEO – MHADA; Shri Milind Borikar, Vice Chairman – MHADA; Dr. Niranjan Hiranandani, Chairman, Hiranandani Group; Mr. Vijay Thakkar, Chairman, DLH; Mr. Shyamal Mody, Partner, Elements Realty; Mr. Ayush Madhusudan Agrawal, Director, Inspira Realty; Mr. Mahesh Patel, Director, Gurukrupa Realcon; and Mr. Virendra Vora, Managing Director, Excel Group. The report was jointly presented by Mr. Sumesh Mishra, Founder, Lighthouse Proptech and Mr. Abhishek Kiran Gupta, CEO, CRE Matrix.
Bandra Bay: Mumbai’s New ‘Marina Bay’ or a ‘Palm Jumeriah’ Moment
Calling ‘Bandra Bay’ as the only iconic waterfront destination in India, the Report highlighted that ‘Bandra Bay’ represented over 140 acres of master-planned luxury waterfront redevelopment is set to transform Bandra Reclamation into Mumbai’s most exclusive bay-side destination. Comparable to global landmarks like Dubai Marina, Palm Jumeirah, and Singapore’s Marina Bay, Bandra Bay will offer investors and end-users an unmatched blend of luxury, connectivity, and long-term value creation; observed the Report.
The report has identified nine high-impacting growth drivers behind Bandra Bay’s emergence as the city’s next luxury epicenter — including its strategic location, generational value, iconic sea-facing architecture, elite exclusivity, international amenities, global demand, and sustainability-led design.
According to the analysis, Mumbai’s premium waterfront homes command a 15–20% price premium, and Bandra Bay, with its limited supply and elite positioning, is poised to outperform the market. The area’s luxury sales trends already have surpassed Juhu and Worli, other luxury residential hotspots of Mumbai, with BKC registering a 3.6% CAGR—well above the Mumbai average of 2.2%.
A New Destination Well-Knitted with Connectivity and Urban Excellence:
The Report further stated that Bandra Bay’s evolution has been fuelled by an unprecedented scale of infrastructure investment — over Rs 2,62,889 crore since 2002 — covering 649 km of transport infrastructure including the Coastal Road, Sea Link, Metro (Yellow and Aqua Lines), Atal Setu Bridge, Western and Eastern Expressways, Mumbai International Airport, and the upcoming Bullet Train.
As per the Report, this multi-modal network positioned ‘Bandra Bay’ as a seamlessly connected urban hub—linking the Bandra-Worli Sea Link, BKC, South Mumbai, and the Chhatrapati Shivaji Maharaj International Airport at Sahar in minutes. Proximity to major commercial zones, upscale social infrastructure, and luxury retail corridors ensures holistic lifestyle integration — from workspaces and homes to leisure and wellness.
Due to its connectivity advantage and being just 10-minutes from Bandra Bay, the Grade A offices in Bandra – Kurla Complex’s office stock is set to add 7 million sq. ft. over the next five years. With this, the region will witness shortfall in luxury housing units, fuelling the demand for luxury residences in the proximity to work places, which will further propel housing prices as demand will exceed the supply, the report assesses. The report further says that about 8,000 CXOs would require luxury residences by 2030.
In terms of pricing, the sea-facing and waterfront residences generally claim a premium of 15 to 20%. With this rationale, the upcoming waterfront belt shall claim the price range of Rs 1.2 lakh per sq. ft. with a further scope for price appreciation; similarly following the trend in Worli where the prices are 46% above than that of Bandra West. About 11 developers including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, The Wadhwa Group are already part of Bandra Bay and many more are planning massive mix-used developments around it.
Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra, said, “This region of Bandra is poised to redefine Mumbai’s urban narrative and the Bandra – Kurla catchment could be well transformed into a world-class township integrating infrastructure, culture, and innovation. Mumbai, as a city of international stature, is becoming the landmark of global living, working, and leisure. Mumbai’s potential reflects the Government’s commitment to strategic planning and the belief that it will set a new benchmark for urban excellence.”
Sanjeev Jaiswal, Vice President & CEO – MHADA, stated, “The Bandra Bay development represents a leap forward in Mumbai’s urban evolution and MHADA is proud to play a key role in this development. Planned under the Cluster Development framework, ‘Bandra Bay’ is more than a real estate initiative. It is a blueprint for inclusive urban renewal, integrating wider roads, open spaces, and future-ready connectivity. The upcoming tunnel to the Bullet Train station and direct waterway links will further anchor ‘Bandra Bay’ as a sustainable, world-class township.”
Dr. Niranjan Hiranandani, Chairman, Hiranandani Group, opined, “Bandra Bay redefines luxury living at the confluence of Mumbai’s key corridors. Its proximity to the Sea Link, Coastal Road, and BKC makes it one of the most strategically placed destinations. With curated architecture, sweeping bay views, and modern amenities, Bandra Bay embodies the evolution of urban sophistication. This region will become Mumbai’s next icon for premium living — where time, mobility, and lifestyle converge.”
‘Bandra Bay’ is set to be the next luxury address for discerned global homebuyers, investors and will lead Mumbai’s swift transition into the league of global waterfront capitals. With advantages like location, connectivity, infrastructure, and lifestyle quotient, Bandra Bay open us the next chapter in Mumbai’s luxury evolution — where the city’s financial power, cultural energy, and coastal grandeur unite to create an unparalleled investment destination, stated the Report.
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