Mumbai's Bandra Bay Will See Luxury Housing & Retail Projects Development Worth ₹1 Lakh Crore
New Delhi: Mumbai's Bandra Bay will witness development of luxury housing and retail projects worth over Rs 1 lakh crore in the coming years as real estate developers look to encash rising demand for waterfront properties, according to a report.Lighthouse Luxury and data analytics firm CRE Matrix have released a joint report 'Why Bandra Bay is Mumbai's Most Iconic Waterfront Investment', stating that nearly 8 million sq ft of premium residential and retail projects are planned in Bandra Bay location.
"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," the report said.Bandra Bay has a development potential of over Rs 1 lakh crore with various ultra-luxury real estate projects being planned along the emerging Bandra waterfront, it added.
"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 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 projects.Sumesh Mishra, Founder of Lighthouse Proptech, said Bandra Bay would be the most desired address in India, attracting ultra HNIs, NRIs, and global investors seeking a truly iconic lifestyle.
Abhishek Kiran Gupta, CEO 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."
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