Mumbai: Bandra Reclamation is expected to attract a whopping revenue of Rs1 lakh crore with various ultra-luxury real estate projects in the pipeline, revealed a new report about the potential of the locality. The destination spanning across 140 acres is set to turn Mumbai into India’s waterfront capital competing with Singapore’s Marina Bay and Dubai’s Palm Jumeirah.
Bandra Reclamation rebranded as ‘Bandra Bay’
The sea facing Bandra Reclamation vicinity spread across 140 acres is now being rebranded as Bandra Bay by the real estate fraternity as multiple ultra-luxury real estate and infrastructure projects are said to turn it into a waterfront destination. According to the latest report ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment,’ jointly developed by Lighthouse Luxury and CRE Matrix, around 8 million sq.ft. of premium residential and retail projects have been planned here with a revenue potential of Rs1 lakh crore.
The report highlighted that 11 developers including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty and The Wadhwa Group are already a part of Bandra Bay and more developers are planning massive mix-used developments around it.
Bandra Bay set to outshine Juhu, Worli in luxury housing
According to the analysis, Mumbai’s premium waterfront homes command a 15–20% price premium, and Bandra Bay is expected to outperform the market with its limited supply and elite positioning. It highlighted that the area’s luxury sales trends have surpassed Juhu and Worli, with BKC registering a 3.6% CAGR, higher than Mumbai average of 2.2%. The report 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.
The report stated that Bandra Bay’s evolution has been fuelled by the infrastructure investment of over Rs2.62 lakh crore since 2002, covering 649 km of transport infrastructure including the coastal road, sea link, metro rail lines, Atal Setu, Western and Eastern express highways, Mumbai International Airport, and the upcoming bullet train. It added that the connectivity factor will add 7 million sq.ft. of Grade-A office spaces over the next five years, which is also expected to fuel the demand for luxury residences for 8,000 CXOs by 2030.
Bandra-Kurla corridor to emerge as world-class township: Shelar
Ashish Shelar, Maharashtra’s information minister and the member of legislative assembly from Bandra West, said, “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.”
Abhishek Kiran Gupta, chief executive officer of CRE Matrix, said, “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. It might start reaping its benefits in the next five years.”
Dr. Niranjan Hiranandani, chairman of Hiranandani Group, said, “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.”
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