Erol Incedal, a British citizen of Turkish origin, was considering different attacks, including indiscriminate killings, prosecutor Richard Whittam told the Old Bailey court.
The suspect also had an address of former Prime Minister Tony Blair and his wife Cherie in his car, he said.
Incedal, who denies preparing for acts of terrorism, is being tried partly in secret.
Jurors for the trial were told yesterday that parts of the proceedings would never become public.
"Count 1 does not suggest that Erol Incedal had settled on a specific target or a particular methodology but in the context of the case as a whole and the evidence that I am going to come to, you may think that this address does have some significance," Whittam said.
Incedal is also accused of possessing a secure digital memory (SD) card "useful to a person committing or preparing an act of terrorism".
The Mumbai attacks involved as many as 12 coordinated shooting and bombing attacks over four days which brought the city to a standstill and resulted in the death of 166 people.
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