Termed ‘Bandra Bay’ by the real estate fraternity, this new waterfront destination in Bandra has a development potential of over ₹1 lakh crore, with several ultra-luxury real estate projects being planned along the emerging Bandra waterfront, reveals an exclusive report titled ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment’, jointly developed and launched by Lighthouse Luxury and CRE Matrix. Positioned as India’s most sought-after luxury waterfront development, the Bandra Bay area is expected to witness nearly 8 million sq. ft. of premium residential and retail projects, according to the report.
The report was unveiled by Shri Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra, at an event held in Mumbai.
Lighthouse Luxury, a part of Lighthouse Proptech — an ultra-luxury real estate listing platform — and CRE Matrix jointly launched the analytical report evaluating the potential of Bandra’s upcoming waterfront to evolve into a global ultra-luxury residential and mixed-use development destination on par with Singapore’s Marina Bay and Dubai’s Palm Jumeirah.
The event witnessed the presence of eminent dignitaries, including Shri Sanjeev Jaiswal, Vice President & CEO, MHADA; Shri Milind Borikar, Vice Chairman, MHADA; Dr. Niranjan Hiranandani, Chairman, Hiranandani Group; Mr. Vijay Thakkar, Chairman, DLH; Mr. Shyamal Mody, Partner, Elements Realty; Mr. Ayush Madhusudan Agrawal, Director, Inspira Realty; Mr. Mahesh Patel, Director, Gurukrupa Realcon; and Mr. Virendra Vora, Managing Director, Excel Group. The report was jointly presented by Mr. Sumesh Mishra, Founder, Lighthouse Proptech, and Mr. Abhishek Kiran Gupta, CEO, CRE Matrix.
Described as India’s only iconic waterfront destination, the report highlights that Bandra Bay represents over 140 acres of master-planned luxury waterfront redevelopment, set to transform Bandra Reclamation into Mumbai’s most exclusive bayside address. Comparable to global landmarks like Dubai Marina, Palm Jumeirah, and Singapore’s Marina Bay, Bandra Bay promises investors and end-users an unmatched blend of luxury, connectivity, and long-term value creation.
The report identifies nine key growth drivers behind Bandra Bay’s rise 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.
According to the analysis, Mumbai’s premium waterfront homes command a 15–20% price premium, and Bandra Bay, with its limited supply and elite positioning, is poised to outperform the broader market. Luxury sales trends in the area have already surpassed those in Juhu and Worli — other prime residential hotspots — with BKC registering a CAGR of 3.6%, well above Mumbai’s average of 2.2%.
The report notes that Bandra Bay’s evolution has been fuelled by an unprecedented scale of infrastructure investment — over ₹2,62,889 crore since 2002 — spanning 649 km of transport infrastructure, including 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 project.
This multi-modal network positions Bandra Bay as a seamlessly connected urban hub, linking the Bandra–Worli Sea Link, BKC, South Mumbai, and the Chhatrapati Shivaji Maharaj International Airport within minutes. Proximity to major commercial zones, upscale social infrastructure, and luxury retail corridors ensures a holistic lifestyle integration — from workspaces and homes to leisure and wellness.
Given its connectivity advantage and proximity to BKC (just 10 minutes away), the Grade A office stock in BKC is expected to expand by 7 million sq. ft. over the next five years. This will lead to a shortfall in luxury housing units, thereby fuelling demand for high-end residences near workplaces — a dynamic that will further drive housing prices upward as demand exceeds supply. The report also estimates that around 8,000 CXOs will require luxury residences by 2030.
In terms of pricing, sea-facing and waterfront residences typically command a 15–20% premium. With this rationale, the upcoming waterfront belt is expected to reach ₹1.2 lakh per sq. ft., with substantial potential for further appreciation — mirroring the trend in Worli, where prices are 46% higher than those in Bandra West. About 11 leading developers — including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, and The Wadhwa Group — are already active in the Bandra Bay region, with many more planning large-scale mixed-use developments.
Shri Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra, stated, “This region of Bandra is poised to redefine Mumbai’s urban narrative, and the Bandra–Kurla catchment could well transform into a world-class township integrating infrastructure, culture, and innovation. Mumbai, as a city of international stature, is becoming a landmark of global living, working, and leisure. The city’s potential reflects the Government’s commitment to strategic planning and to setting new benchmarks for urban excellence.”
Shri Sanjeev Jaiswal, Vice President & CEO, MHADA, added, “The Bandra Bay development represents a leap forward in Mumbai’s urban evolution, and MHADA is proud to play a key role. Planned under the Cluster Development framework, Bandra Bay is more than a real estate initiative — it is a blueprint for inclusive urban renewal, integrating wider roads, open spaces, and future-ready connectivity. The upcoming tunnel to the Bullet Train station and direct waterway links will further anchor Bandra Bay as a sustainable, world-class township.”
Dr. Niranjan Hiranandani, Chairman, Hiranandani Group, remarked, “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.”
Mr. Sumesh Mishra, Founder, Lighthouse Proptech, said, “At Lighthouse Luxury, we are proud to have coined the term ‘Bandra Bay’ and reimagined this coastline as a global destination. This report is a collaborative effort rooted in research and foresight. Bandra Bay is not just a location — it is a movement. We believe it will be India’s most desired address, attracting ultra-HNIs, NRIs, and global investors seeking an iconic lifestyle. Bandra Bay will serve as an alternative to Palm Jumeirah and Marina Bay for discerning luxury investors.”
Mr. Abhishek Kiran Gupta, CEO, CRE Matrix, added, “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 sector matures globally, Bandra Bay stands as a symbol of this evolution.”
‘Bandra Bay’ is poised to become the next luxury address for discerning global homebuyers and investors, leading Mumbai’s transition into the league of global waterfront capitals. With unmatched location, connectivity, infrastructure, and lifestyle quotient, Bandra Bay opens a new chapter in Mumbai’s luxury evolution — where the city’s financial power, cultural vibrancy, and coastal grandeur converge to create an unparalleled investment destination.
