Mumbai's Bandra Bay to unlock ₹1 trillion in luxury real estate potential

A report projects 8 million sq ft of luxury waterfront development worth ₹1 trillion near BKC, with leading developers including Adani Realty and Hiranandani on board

Mumbai is poised to become India’s ‘waterfront capital’ with the upcoming Bandra Bay project near Bandra–Kurla Complex (BKC), offering over ₹1 trillion in development potential through ultra-luxury real estate, according to a report by Lighthouse Luxury and real estate analytics firm CRE Matrix.

 

The report estimates nearly 8 million square feet of premium residential and retail development across 140 acres of master-planned luxury waterfront space. About 11 leading developers — including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, and The Wadhwa Group — are already part of the initiative, with more expected to join in mixed-use projects.

 

 

High-end growth drivers and price outlook 

The study identifies nine growth drivers behind Bandra Bay’s rise — strategic location, generational value, sea-facing architecture, exclusivity, global appeal, sustainability-led design, and luxury amenities. Mumbai’s premium waterfront homes already command a 15–20 per cent price premium, and Bandra Bay, with its limited supply and elite positioning, is expected to outperform the city’s overall luxury housing market. 

 

Luxury sales trends in the area have already outpaced those in Juhu and Worli. BKC registered a compound annual growth rate (CAGR) of 3.6 per cent, above Mumbai’s average of 2.2 per cent. Bandra Bay is projected to achieve prices of around ₹1.2 lakh per sq ft, with further room for appreciation.

 

Infrastructure driving value creation 

The report attributes Bandra Bay’s growth to infrastructure investments exceeding ₹2.63 trillion since 2002, spanning 649 km of transport networks. These include 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.

 

Dr Niranjan Hiranandani, chairperson of the Hiranandani Group, said, “Bandra Bay’s proximity to the Sea Link, Coastal Road, and BKC makes it one of the most strategically placed destinations.”

 

Rising demand for luxury homes near BKC 

BKC’s office segment is expected to add about 7 million sq ft of new stock over the next five years, creating a shortfall in luxury housing near workplaces. The report estimates that by 2030, around 8,000 CXOs will require luxury residences in the vicinity, further fuelling demand and prices.

 

Sanjeev Jaiswal, vice president and chief executive officer of the Maharashtra Housing and Area Development Authority (MHADA), said, “Planned under the cluster development framework, Bandra Bay is more than a real estate initiative. The upcoming tunnel to the Bullet Train station and direct waterway links will further anchor it as a sustainable, world-class township.”