Bandra Reclamation to get 8 million sqft of luxury residential, retail spaces: Report

The report by Lighthouse Luxury and CRE Matrix projects a development potential of over ₹1 lakh crore for the waterfront area, with various ultra-luxury real estate projects being planned.

Mumbai: The Bandra Reclamation area is poised for a major transformation, with nearly 8 million square feet of high-end residential and retail development in the pipeline, according to a new report released on Wednesday.

Mumbai, India - March 19, 2020: Empty roads at Bandra Reclamation in Mumbai, India, on Thursday, March 19, 2020. (Photo by Satyabrata Tripathy/Hindustan Times) (Satyabrata Tripathy/HT Photo)

Titled Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment, the report, by real estate advisory Lighthouse Luxury and real estate analytics firm CRE Matrix, projects a development potential of over ₹1 lakh crore for the waterfront area, with various ultra-luxury real estate projects being planned.

Covering more than 140 acres, the area, dubbed “Bandra Bay” in the report, is envisioned as Mumbai’s most exclusive bay-side destination. The report outlines nine key factors driving this transformation, including its strategic location, iconic sea-facing architecture, global demand and sustainability-led design.

“Within two years, we are planning to come up with a marina at Bandra,” said Ashish Shelar, the guardian minister for suburban Mumbai, while launching the report on Wednesday.

The report says that this area’s growth is being fuelled by infrastructure investments totalling over ₹2.6 lakh crore since 2002. Some of the projects fueling this momentum include the Mumbai Coastal Road, the Bandra-Worli Sea Link, the upcoming Versova-Bandra Sea Link, the Mumbai Metro (Yellow Line and Aqua Line), the Mumbai Trans Harbour Link (Atal Setu), the Western and Eastern Express Highways, and the upcoming Mumbai-Ahmedabad bullet train.

The area’s proximity to major commercial zones, upscale social infrastructure, and luxury retail corridors ensures holistic lifestyle integration—from workspaces and homes to leisure and wellness, the report says.

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. As India’s real estate matures globally, Bandra Bay stands as the symbol of this evolution.”