Mumbai stands ready to turn into India’s main waterfront hub. The Bandra Bay project sits close to Bandra-Kurla Complex. It promises over 1 trillion rupees in growth from high-end homes and shops. A report from Lighthouse Luxury and CRE Matrix points this out.
The report figures close to 8 million square feet of top homes and stores. This spreads over 140 acres of planned luxury space by the water. Eleven big builders join in. They include Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, and The Wadhwa Group. More will add to mixed projects.
Key factors for high-end growth and prices
The study lists nine reasons for Bandra Bay’s boom. These cover smart spot, lasting worth, ocean views, rare access, world draw, green builds, and posh features. Mumbai’s best waterfront homes fetch 15 to 20 percent more now. Bandra Bay has few spots and top status. It should beat the city’s luxury home market.
Luxury sales in the zone already top Juhu and Worli. BKC saw a steady rise of 3.6 percent each year. That beats Mumbai’s 2.2 percent average. Bandra Bay should hit prices near 1.2 lakh rupees per square foot. Upside for more gains looks strong.
Builds that boost worth
The report ties Bandra Bay’s rise to over 2.63 trillion rupees in road and transit work since 2002. This covers 649 km of links. Key ones are Coastal Road, Sea Link, Metro Yellow and Aqua Lines, Atal Setu Bridge, Western and Eastern Expressways, Mumbai Airport, and the Bullet Train ahead.
Dr. Niranjan Hiranandani leads Hiranandani Group. He said, “Bandra Bay sits near Sea Link, Coastal Road, and BKC. That puts it in a prime spot.”
More need for fancy homes by BKC
BKC’s office space will grow by 7 million square feet in five years. This creates a gap for luxury homes close to jobs. By 2030, the report sees 8,000 top execs needing nearby pads. That will push demand and costs up.
Sanjeev Jaiswal heads MHADA as vice president and CEO. He said, “Bandra Bay fits the cluster plan. It’s beyond just homes. A new tunnel to Bullet Train and water routes will make it a green, top-tier town.”